[anneo59]

Hello, Im curious about people's experiences here with obtaining life insurance or having problems doing so. For example, I know that various physical and mental disorders and age, etc., even credit at times--all matter in differing ways. Am investigating process now, myself. Also, I know that risk management policies and all products are not created equal! Thanks in advance for any input.

[Perna]

Here's a good article on it; would depend on your diagnoses, etc.:

Mental Illness & Life Insurance | LIVESTRONG.COM

[anneo59]

Originally Posted by Perna

Here's a good article on it; would depend on your diagnoses, etc.:

Mental Illness & Life Insurance | LIVESTRONG.COM

thanx so much, Perna, will look into it!

[Douglas MacNeill]

Originally Posted by anneo59

Hello, Im curious about people's experiences here with obtaining life insurance or having problems doing so. For example, I know that various physical and mental disorders and age, etc., even credit at times--all matter in differing ways. Am investigating process now, myself. Also, I know that risk management policies and all products are not created equal! Thanks in advance for any input.

The situation in Canada seems pretty discouraging to a guy like me. Most life insurance policies available in Canada require you to be drug-free for two full years (insurance companies are allowed to require this because that is the benchmark for becoming medically eligible to enlist in the Canadian Forces). This provides a real incentive for trying to go off your medications and stay off
them--even when such action is against medical advice.

[anneo59]

Originally Posted by Douglas MacNeill

The situation in Canada seems pretty discouraging to a guy like me. Most life insurance policies available in Canada require you to be drug-free for two full years (insurance companies are allowed to require this because that is the benchmark for becoming medically eligible to enlist in the Canadian Forces). This provides a real incentive for trying to go off your medications and stay off
them--even when such action is against medical advice.

wow, just wow to that one and the whole situ! But still trying to find a solution!

[anneo59]

Originally Posted by anneo59

wow, just wow to that one and the whole situ! But still trying to find a solution!

very frustrated, my fam needs the life insur and a reasonable policy as well. Getting rejections, but still looking! Not giving up at this point! Mental health parity seems more of a hollow phrase than ever, for all kinds of reasons!

I was turned down for life insurance due to depression and eating disorders. Really a slap in the face for me. But I guess eating disorders have a high rate of death.

[eeyorestail]

I had a really hard time just getting a small death benefit because of my depression/medication. I'm pretty sure I wouldn't qualify for a larger term policy. It really sucks.

[anneo59]

Originally Posted by krminnj

I had a really hard time just getting a small death benefit because of my depression/medication. I'm pretty sure I wouldn't qualify for a larger term policy. It really sucks.

yes i have heard that sometimes under such circumstances one can get small death benefit mostly for final expenses, and more restrictive, so now looking to see what's out there, whorthwhile, and not a total scam. Any info welcome here! ty to all who responded so far

[Rose76]

Here is something that insurance companies do to protect themselves: A lot of life insurance policies don't pay off for death during the first 2 years of the policy, if the cause of death is suicide.

I would not necessarily disclose everything about my mental health history to a life insurance company. You don't have to. The question is: are you withholding information that would make you guilty of fraud in the eyes of a court . . . or that would substantially alter your risk profile? Not every single thing in your history comes up to that level of importance.

For instance, if you withheld some psych info and your death occurred consequent to something unrelated to your psych history, your policy would probably have to pay off despite that.

Have you noticed how some offers of life insurance say that you only have to answer 3 simple questions? Then you see where answering those questions comes out to be your whole life story. Like: Have your ever had any one of the following disorders/diseases? Then they list almost every important disease known to man. That's more than one question IMO.

[anneo59]

Originally Posted by Rose76

Here is something that insurance companies do to protect themselves: A lot of life insurance policies don't pay off for death during the first 2 years of the policy, if the cause of death is suicide.

I would not necessarily disclose everything about my mental health history to a life insurance company. You don't have to. The question is: are you withholding information that would make you guilty of fraud in the eyes of a court . . . or that would substantially alter your risk profile? Not every single thing in your history comes up to that level of importance.

For instance, if you withheld some psych info and your death occurred consequent to something unrelated to your psych history, your policy would probably have to pay off despite that.

Have you noticed how some offers of life insurance say that you only have to answer 3 simple questions? Then you see where answering those questions comes out to be your whole life story. Like: Have your ever had any one of the following disorders/diseases? Then they list almost every important disease known to man. That's more than one question IMO.

yes, totally agree w ur last paragraph! And u r so right as you must divulge what you have to but think carefully about letting go of any unnecessary info. yes have seen where the high risk policies dont pay out usu for a few years. . . .its all about risk management, and ins co bottom line for sure!