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Life Insurance for People with Mental Health Problems

Designed to provide a financial safety net for your family if the unthinkable should happen to you.

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Did you know that having a Mental Health issue isn't always a problem when you're trying to find affordable Life Cover?

It all depends on the details of your circumstances.

This is why we believe you should talk to an expert like Moneysworth. We're here to take the stress out of finding Life Insurance, and advise you on the most suitable policy.

Moneysworth has helped many people with different mental health issues to find suitable Life Insurance.

This is because we're well placed to help people in this situation. We have personal experience of some of the key issues involved, and detailed knowledge of the Life Insurance market.


A new Life Insurance opportunity for people with Mental Health Issues

Life insurance after a suicide attempt

Previously, people who'd had a significant mental health event within the past five years (such as suicide attempt, suicidal thoughts, self-harm, in-patient treatment at a psychiatric ward) would find it especially difficult to find insurers willing to offer them Life Cover. An application for Life Insurance would often be declined or postponed. In some cases cover would be offered – but at an unaffordable price.

We now have a new Life Cover option available that's been specifically designed for people who have had a significant mental health event in the last five years. This new cover option is typically available at a more affordable price.

Do you qualify? Get a quote today to find out.


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We work with you to try and find the most suitable result

We can't promise to find cover for everyone who comes to us – however, you can be assured that your enquiry will be dealt with competently and confidentially.

How our experts help you find Life Cover

We understand that applying for Life Cover on your own can be stressful, especially for people with mental health issues. By working together, we do everything we can to make the process as easy and simple as possible for you.

  1. The first step is to discuss your situation with one of our friendly experts.
  2. Our expert will then speak with insurance companies to find out if they can offer you Life Cover, and what premium they might charge.
  3. We then discuss the results of our research with you. If you decide to apply, we'll help you and deal with the whole application process on your behalf.

Mental Health Issues and Life Cover – your questions answered

It depends on your circumstances. We have arranged Life Cover for people with mental health issues including:

  • Stress
  • Anxiety
  • Panic attacks
  • PTSD
  • Depression
  • Clinical depression
  • Mood swings
  • Post natal depression
  • Bi polar disorder
  • Schizophrenia

We can help you by searching for insurance companies who are willing to offer Life Cover for people with your condition.

As well as basic personal information (such as height and weight) you can expect to be asked for medical information about your physical health as well as your mental health.

You will be asked for information about specific diagnoses, symptoms and treatments. Also, you can expect to be asked whether or not you have ever attempted suicide and to provide a relevant date(s).

It depends on the specifics of your situation. We will do our very best to find out what information will be required and to keep you informed.

The insurance company may wish to call you to ask a few questions. Often (though not always) the insurance company will wish to write to your GP to ask them some questions about your health.

For most mental health issues, clients aren't usually asked to attend a medical examination.

A medical exam can sometimes be requested for certain physical health conditions.

Until recently, it would have purely depended on the specific details of your circumstances, such as how many suicide attempts there have been, and how long ago they occurred. Even today, this is the situation with most (but not all) insurers:

  • Where there has been one suicide attempt only and it occurred more than five years ago, then it is possible that you may still be offered life insurance (depending upon the other aspects of your health and situation).
  • If there has been one suicide attempt and it has been within the last five years, it will be more difficult to find an offer of Life Cover. The situation could become more favourable once five years have elapsed since the suicide attempt.
  • If there have been a number of suicide attempts, usually this will mean that it's impossible to obtain Life Insurance. However, if the suicide attempts took place a reasonably long time ago and occurred around the same time, there may be an insurance company who is willing to regard these as one incident, and they might consider offering cover.

The good news is that not all insurers follow the criteria listed above. Moneysworth now has a new Life Cover option available that's been specifically designed for people who have had a significant mental health event in the last five years. This new cover option is typically available at a more affordable price.

Do you qualify? Get a quote today to find out.

It is often still possible to obtain these types of insurance cover.

  • For Critical Illness Cover, there may be a relatively minor exclusion for critical illness related to the mental health issue (there are not many illnesses excluded).
  • For Income Protection Cover, there would usually be a more significant exclusion for mental health conditions. This is because mental health issues account for a significant percentage of income protection insurance claims.

We've got the expertise to help you find you the most suitable result

Not all insurers will necessarily come to the same decision. There can be significant differences in their premiums too.

Moneysworth regularly searches the Life Insurance marketplace on behalf of clients who have (or previously had) mental health issues. This means we can keep abreast of the latest changes with the insurers.

Already got Life Cover? Think you're paying too much for it?

If you already have cover in place but arranged it several years ago, it could be a good idea to talk to Moneysworth – we might be able to find a more suitable deal for you.

How Moneysworth is better placed to help you find Life Insurance

Why? Because when insurance companies look at your condition and requirements, they don't always make the same decision.

If you were to ask just one or even a few insurers, how would you know if the terms you're being offered are really competitive? Also, if those insurers decline to offer you any cover, how would you know if other insurers in the market would make the same decision?

Moneysworth deals with insurance companies across the market, so asking us to find Life Insurance on your behalf could save you a lot of time and worry. This a real benefit if you want to feel confident that you're getting a really good outcome.

Before applying to insurers, we carefully examine the details of your circumstances. We have a wealth of experience in searching for Life Cover for people with health conditions, which means you'll get the best chance of finding life insurance with suitable premiums.

We've even developed special research processes designed to help you get a favourable result. So, by the time we apply, we already have a good idea of what the final outcome might be - and can usually give you an idea of the price as well.

If Moneysworth can't get you the cover you are seeking, it probably isn't possible to obtain.

We know (based on personal experience) the value of Life Insurance. It's one of the reasons that we're so dedicated to helping each and every client find the most suitable result.

Very few other companies are able to offer you the level of specialist knowledge and experience that our team has gained. Moneysworth has been successfully sourcing Life Insurance for people with health conditions for over 21 years.

Moneysworth provide a personal service for every client. Right from the beginning, you'll speak with a real expert. No endless telephone menu options or being passed around different departments.

We help you throughout the whole process, providing you with explanations along the way. We aim to make the journey as easy as possible for you, ensuring that you feel fully-informed.

Peace of mind is worth waiting for! Why writing to your GP is a good thing…

When a life insurance company writes for medical information from a doctor, they will need to wait until they get the information back in order to make a final underwriting decision. Inevitably, this means that it takes a while to get a final answer.

However, if the life insurance company receives medical information from your GP and decides to make you a definite offer of life insurance, you can feel safe in the knowledge that the insurance company has taken independent medical verification before offering the terms.

Why is it so important that the insurance company sees your medical information?

Well, providing that you have fully and honestly answered all the questions on the application form, you can feel confident that the cover is fit for purpose and – if the worst happens – the policy will pay out.

We believe that knowing the policy will pay out is the most important thing for all clients – especially if you already have a health condition.

Many people come to Moneysworth after being declined Life Cover elsewhere.

We're often successful in finding Life Cover for these people. Different life insurance companies often take differing positions on the same information. Our processes are designed to help identify where you can get the most favourable result.

There are cases when, despite our best efforts, we are unable to find cover – but usually we are able to find the cover you require.

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Before calling us, please make sure you have read and understood our Privacy Notice .

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Client reviews:

"Excellent service and customer care."

5 star customer rating

"Would certainly buy from them again. Didn’t think I’d get a quote for Schizophrenia anywhere. Can’t rate the service of both Alistair and Gemma high enough."

Moneysworth client (8 April, 2020)

"Very Happy."

5 star customer rating

"Very pleased with the efficient service. They were quick in responding to emails and were able to find me a suitable level of cover when other insurers couldn’t."

Moneysworth client (20 April, 2020)

"Finally got me life insurance when other companies couldn’t."

5 star customer rating

"I couldnt get life insurance due to mental health issues. Kevin and Gemma persisted and found me insurance at a good premium. I am very grateful. Thank you."

Moneysworth client (22 July, 2020)

Read more client reviews

We don't charge you a fee

If you start a policy, we will be paid a commission by the insurance company. The insurance company will usually pay for any doctor's fees if reports are required.

Did you know?

Perception vs. Reality…
Some people think that insurers don't usually pay out for Life Insurance, Critical Illness Cover and Income Protection claims.

However, in 2019, a record high of 98.3% of Life Insurance claims made were paid, including 97.4% of term Life Insurance claims, 91.6% of Critical Illness Cover claims and 99.9% of Whole of Life claims.

Source: Association of British Insurers, May 2020