life insurance with morgage (worried)

[funkylady]

i have been accecpted for my morgage when i went for life cover i told them i suffered from postnatal depression and was taking tablets and so they had to get a report for my doctor will this effect me getting cover i have not heard anything back yet and i am worried

 

[NicolaM]

Hi
It can take a while for reports to come back from your GP. You should ring the GP and make sure they've gotten the forms (often times they may not have), and also explain that you need them back as soon as possible, as your mortgage depends on them. Often these can take a while to get sent back, but if you stay in touch with the GP's secretary it can speed things up a bit.
A lot of people have had medical issues in the past, this does not mean they can't get insurance cover. It may mean you have to pay a bit extra, or try a few companies however.
So don't panic!
Best of luck
Nicola

 

[LDFerguson]

If there is no previous history of depression you should be okay. If you are still taking tables for the post-natal depression, there may be a loading as Nicola has said, but you're unlikely to be declined for this reason alone in my experience.

 

[ggirl]

I recently bought for the first time and had the same issue. I am bi-polar and have been hospitalised because of the depression in the past. As with you they asked my doctor for a report. In the end they doubled their original quote to me and put in a clause that there is no cover if anything happens related to my illness (e.g. I got serious illness cover which excludes bi-polar). It makes me angry because effectively they charge me double for the benefit of not covering my illness but you know insurance companies! Anyway, back to your point, I have never heard of anyone being refused because of depression, just be prepared to have to pay extra.

 

[LDFerguson]

In the end they doubled their original quote to me and put in a clause that there is no cover if anything happens related to my illness (e.g. I got serious illness cover which excludes bi-polar). It makes me angry because effectively they charge me double for the benefit of not covering my illness but you know insurance companies!

I would strongly suspect that the increase in cost relates to the life assurance cost and that the life assurance (death benefit) does include cover for depression.

The serious illness cover excludes depression, but I'd say it's unlikely that you were charged extra for this.

In my experience, insurance companies don't exclude a condition and charge extra for cover because of the same condition.

 

[ggirl]

It has been made very clear that if I die and the death is in any way related to my depression (i.e. presumably suicide) the policy won't be paid out on. Also, I am 100% certain the companies do charge extra once they know you have any mental health issue. I worked in the area for many years and both work colleagues and other sufferers I dealt with through my work all had the same experience. In fact, it is something my psychiatrist is actively encouraging people to make complaints about as it is clear discrimination. As for charging double for not covering my illness, I may not have worded it properly but the fact remains the quote my insurance company gave me was doubled when they discovered I was bi-polar and their letter very clearly stated two points to note: 1) the illness is not covered 2) the monthly charge would be increased as a result of my illness.

 

[LDFerguson]

Hi ggirl,

Most life assurance policies contain a standard exclusion that if the policyholder dies due to suicide, the policy won't pay out if the suicide is within typically 12 to 24 months of the start date of cover.

If, as it appears, your policy is extending this period indefinitely and loading your premium due to depression, I would agree that it is unfair to load and exclude in respect of the same illness.

I would suggest that you complain in writing to the insurance company that they should not be loading your premium and imposing an exclusion in respect of the same medical condition.

 

[Diziet]

Myself and partner got new mortgage protection and life insurance a few years back. He has a history of severe depression. We went through a broker (LA brokers I believe, who were very professional and responsive), I think the GP had to provide a report, but actually we still ended up paying a very reasonable premium, and far far less than the one the bank's insurers suggested! Do shop around and stop worrying, post-natal depression is very common and not generally a long term illness.