NS Insurance Feature The Insurance Surgery’s Head of Sales and Operations
Our Head of Sales and operations, Eli Lycett was recently featured in an article by NS Insurance about the impact of mental health conditions on life insurance.
It is unfortunate that if you suffer, or have suffered, from a mental health condition, then your premiums will be considerably more expensive than someone who does not suffer from mental health issues. However, there are ways to reduce your premiums through the use if exclusions. This is where a policy will exclude a certain health issue, i.e. suicide due to depression, which will reduce the monthly premiums. This is particularly helpful in a case where the mental health issues are historic and the risk of suicide is slim.
Eli says “A lot of these customers can be in a situation whereby these mental heath issues are truly in the past or they’re medicated for but there’s no impact on daily life.
“Despite this, they can be penalised based on the assumption that mental health issues mean suicide risk.
“One of the single biggest things people could do is place a suicide exclusion on policies, because that’s the risk that seems to flag up most”
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To read the full article follow the link www.nsinsurance.com/news/mental-health-insurance/