Mortgage Protection - any issue being on SSRIs for anxiety?

We're meandering in and out of all kinds of medical and mental health issues here.

OP has mentioned anxiety but not depression, mild or any other degree, and has named the type of medicine he's on. He's also mentioned planning to come off the medicine. I don't know if that planning is happening with medical input but if not I'd encourage OP to seek medical input before formulating any kind of a "plan".

As for lying about medical facts and prescribed medications on a mortgage or insurance application, that is a very bad idea.
 
Thirsty said:
I didn't suggest it would be.

It is however a lump sum that could be used to clear the mortgage debt.
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I know. But the fact that the bank has no claim against the benefits leaves them exposed.

Brendan Burgess said:
Hi Steven

It would be much better for a single person to use the premiums to pay down the mortgage than to pay for insurance which they will never benefit from.

It would be much better for the original poster dubdub, to get a mortgage while temporarily telling a lie from which he will never benefit, than to not get a mortgage at all.

Brendan
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Yes, it would be more beneficial for them to use the small premium to pay down their mortgage but the terms of the loan is they have cover. If they don't want cover, don't apply for a mortgage.

No one has said the OP won't get cover and this is all bluster that is not helping the OP. Between having to tell the OP not to lie, advise has been given on what to do. Provide as much information as possible and a GP report may be requested.

The OP has been told that it may delay the process as additional information will have to be sought.

Isn't that much better and sensible advice than telling them to lie about a medical condition that they have?


Steven
www.bluewaterfp.ie
 
Apart from all the 'maybe you should lie, maybe you shouldn't' (imo you shouldn't, your answer will generate a questionaire to doc which may slow processing slightly) being refused mortgage protection does not prohibit someone from getting a mortgage or buying a house. Provision was made for cases like this where cover is declined, postponed or prohibitively expensive when the Consumer Credit Act was brought in, now it up to each individual bank to decide whether or not to allow a waiver on the mortgage protection but they are available depending on scenarios.
 
mathepac said:
We're meandering in and out of all kinds of medical and mental health issues here.

OP has mentioned anxiety but not depression, mild or any other degree, and has named the type of medicine he's on. He's also mentioned planning to come off the medicine. I don't know if that planning is happening with medical input but if not I'd encourage OP to seek medical input before formulating any kind of a "plan".

As for lying about medical facts and prescribed medications on a mortgage or insurance application, that is a very bad idea.
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absolutely will be in line with medical advice. Because I am moving counties, I will need to find a new doctor to support on this so determined it was more appropriate to wait until the house move had been completed and I'm under care of a new GP. I absolutely won't be going gung-ho on my own with this. And yes it's anxiety not depression, hence a very low dosage of SSRI.. it's interesting how posters have called out depression when I absolutely did not say that.

Overall, leaving aside my own personal situation, it's actually quite concerning that an anxiety related diagnosis could impact life cover as it may discourage people from seeking support that may prevent escalation of issues.

I appreciate all the input from everyone on this . I will post update in coming days regarding outcome.
 
dubdub123 said:
Overall, leaving aside my own personal situation, it's actually quite concerning that an anxiety related diagnosis could impact life cover as it may discourage people from seeking support that may prevent escalation of issues.
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I have been treated for both depression and anxiety over many years. On life insurance applications, I have been asked specific questions about it. Type of treatment, type of medication, have I ever been hospitalised, any attempts at self-harm etc. Because mental health issues are on a huge scale from very mild to very severe, the life insurance companies need to establish where on the scale you sit. Personally it's never caused any issues with me getting life insurance. Just a few specific questions and sometimes the company writing to my doctor to verify what I'm saying. It's never caused a delay, nor has it ever caused the premium to be loaded. Of course, that's just me.

In my capacity as a broker, I can say that life insurance companies are very much aware of how many people suffer with anxiety and depression. My experience is that it would only impact life cover in fairly severe cases, where there has been hospitalisation, self-harm, strong reliance on heavy medication daily etc. I can't say if this describes you, but from your posts it doesn't sound like it.
 
Is the bank/lender only interested in the fact that you have mortgage protection, or could they ask to see the details of the policy to know what details were disclosed to the insurance company?

e.g. if your mortgage application revealed some details about your health that came up during explanations of your financial / employment history, might the bank be interested to know if the insurer knew about the same details?
 
dubdub123 said:
Overall, leaving aside my own personal situation, it's actually quite concerning that an anxiety related diagnosis could impact life cover as it may discourage people from seeking support that may prevent escalation of issues.
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Absolutely. I knew someone who worked in the healthcare profession and was afraid to get medication for anxiety because you have to declare your full medical history on all job applications, it was almost assumed it was an automatic NO to future job prospects. That was 5 years ago, maybe things have changed since...
 
The_Cash_Man said:
Is the bank/lender only interested in the fact that you have mortgage protection, or could they ask to see the details of the policy to know what details were disclosed to the insurance company?

e.g. if your mortgage application revealed some details about your health that came up during explanations of your financial / employment history, might the bank be interested to know if the insurer knew about the same details?
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The bank are only interested in the issued policy, they won't ask to see the application form and the only reason they would ever know what was in it was if you filled it out with them.
 
The mortgage protection provider has come back with requests for me to fill in two additional questionnaires

- Anaemia and blood disorders ( I had low iron over 5 years ago and had declared that previously on an application, so though best to keep included for consistency)
Form is asking "How was it discovered?" - I basically had a blood test , cant remember exact dates but definitely over 5 years ago.
Form is asking "what treatment have you had?" - I went onto iron tablets for few monhts - cant remember exactly being honest and next blood tests (and since) have been fine

This was actually so long ago I can't remember specifics, I did have bloods drawn earlier this year. Should I try get a copy of those blood test results or only obtain if requested? No issues with iron levels since this one episode


- Anxiety , Stress, Depression :
They are asking "Are you fully recovered?" . Im currently still on medication however feeling much better due probably to medication and also changing other habits and having moved back to Dublin. Do I still have to answer "No" here because Im still on medication? I am planning to go off the SSRIs (under guidance of GP) however as Im in midst of moving county I felt it made more sense to do this under care of new GP (which Ive to setup)

Form asks - Are you having treatment now? - Do they just mean am I on medication? Or referring to other aspects of care? The title covers depression etc
Form asks "When did it start and finish?" Is this the date that I went onto medication?


Any guidance on what level of detail would be beneficial to provide here? I'm not sure if I should check some of this with my GP beforehand for more specific dates or if I give approximate timeline that it may be enough. I'm trying to close out purchase for end of next week and this is the last item now!
 
On the anaemia, put down, word for word what you wrote above. Lots of people can't remember dates of events that happened years ago. What's far more important is that you're telling the life insurance company the truth rather than attempting to hide anything.

If they want copies of the blood test results, they'll ask your GP who I presume has them.

dubdub123 said:
They are asking "Are you fully recovered?" . Im currently still on medication however feeling much better due probably to medication and also changing other habits and having moved back to Dublin. Do I still have to answer "No" here because Im still on medication? I am planning to go off the SSRIs (under guidance of GP) however as Im in midst of moving county I felt it made more sense to do this under care of new GP (which Ive to setup)
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I'd answer No and fill in what you've said above.

dubdub123 said:
Are you having treatment now?
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Answer: Yes. Just medication (assuming that's the case)

dubdub123 said:
"When did it start and finish?"
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Hard to tell what they're referring to here without seeing the rest of the form for context. It's either the medication or the anxiety itself.

Happy to offer advice on Askaboutmoney but you really should be directing these questions to your broker / whoever is selling you the Mortgage Protection policy. That's part of what a broker gets paid for - to help you completing such forms.
 
The_Cash_Man said:
Is the bank/lender only interested in the fact that you have mortgage protection, or could they ask to see the details of the policy to know what details were disclosed to the insurance company?
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They will want to see the policy document itself, which has no medical details whatsoever on it. They don't ask to see the application form.
 
Dave Vanian said:
On the anaemia, put down, word for word what you wrote above. Lots of people can't remember dates of events that happened years ago. What's far more important is that you're telling the life insurance company the truth rather than attempting to hide anything.

If they want copies of the blood test results, they'll ask your GP who I presume has them.



I'd answer No and fill in what you've said above.



Answer: Yes. Just medication (assuming that's the case)



Hard to tell what they're referring to here without seeing the rest of the form for context. It's either the medication or the anxiety itself.

Happy to offer advice on Askaboutmoney but you really should be directing these questions to your broker / whoever is selling you the Mortgage Protection policy. That's part of what a broker gets paid for - to help you completing such forms.
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Great thank you so much. Ive spoken to the broker dealing with mortgage protection as well and I've now submitted the questionnaires.. just a waiting game now.
Im hopeful that the questionnaires are sufficient to move forward.. best case I think closing date will have to push out by few days even as things stand. Broker said documents are just put in a queue and there's no longer a way to prioritise.. so looking like it will be next week by the time I have an answer..
 
Update: contacted a different broker and filledin paperwork for other insurer, providing same details and ive been told its accepted and policy will issue next week. Just goes to show...
 
dubdub123 said:
Update: contacted a different broker and filledin paperwork for other insurer, providing same details and ive been told its accepted and policy will issue next week. Just goes to show...
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Different companies have different requirements.

Glad it's all gone well for you.

And you didn't have to lie either ;)
 
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