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Here we hope to talk about a few of the key questions people have about mental health difficulties and accident and sickness insurance. Can you get hold of insurance which covers you when you are struggling thanks to mental health problems which stop you from working? Why is it more difficuly to insure against depression than against physical sickness? On this page we will speak about some key info you need to know to understand accident and sickness insurance and depression.
'High risk' candidates are only very grudgingly sold protection as companies percieve these candidates as more liable to need cover in the future. Sadly this is all down to the stats and it makes tracking down decent sickness and accident insurance really tricky if you have, or have ever had, depression. This fact means that a mental health difficulty sufferers are forced to pay for far more expensive cover because they have little option but to go with an insurance provider who is more willing to take on high risk clients, thus raising the premiums each service-user has to shell out for their accident and sickness insurance.
One shocking figure is that in 1996 1/4 of people who had used mental health services were denied cover. Thankfully, this is beginning to change and the number has been improving steadily in recent years as understanding and the demand for equality increase. Fortunately it is now not legal to do this. In 2010 the Equality Act made it illegal to discriminate against those dealing with mental health disabilities, but it is a bit of a grey area to enforce laws around, which makes it a little murky to this day. The most vital section of the Equality Act, as far as mental health and accident and sickness insurance is concerned, is Part III. In this section it is made law that there must be "fair and equal distribution of goods and services to all...at a fair and reasonable rate". This means that insurance companies have to deal with those of us with depression, and have to do so fairly.
It could be tempting to simply not bring up your mental illness when buying insurance. This is not a good idea. As cost-lowering as this might be in the first case, if you ever have to utilise your cover, but have failed to disclose relevant info when buying insurance, your accident and sickness insurance may be invalidated.
Make certain you talk with a selection of different insurance providers. An informed buyer is more likely to source a good deal. The statistics, formulas, numbers and policies which companies deal with vary widely which is why shopping around can save you money. Track down as many quotes as you can before deciding.
Accident and sickness insurance is something that everybody is entitled to and it is a crucial area in which to be insured. A mental health condition is no reason to not make sure you are completely insured.
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