You are here: Home - Insurance - News -

Two-fifths of UK adults hide mental health concerns from insurer

Written by:
Some 44 per cent of adults in the UK have not disclosed that they have mental health worries to their insurer, with many citing fears it will impact their life insurance or critical illness cover.


According to research from Scottish Widows, of those who did not inform their insurance company about their mental health, a fifth said they were worried it would mean they would not qualify for a policy or be charged more. 

Scottish Widows disputed this, saying declaring a mental health condition did not necessarily mean higher premiums. The company also said it was unlikely to mean someone would be ineligible for protection cover. 

In contrast, the firm said being open with insurers could lead to support as many providers worked with charities and organisations and could refer policy holders for help. 

Of the 2,000 respondents, a quarter felt it was too personal to share their mental health worries with their insurer. A further 37 per cent were under the impression that providers were only interested in physical illness. 

Generally, mental health concerns have become prevalent during the past 18 months with 47 per cent of respondents saying they had experienced issues with their wellbeing. These tended to be related to financial struggles, relationship stress and sleeplessness. 

Rose St Louis, protection director at Scottish Widows, said: “People are confused about how mental health conditions affect their critical illness cover or life insurance, which prevents them from getting the right support. Insurers aren’t trying to catch people out – we are there to help our customers. It’s vital we have the right information in order to do this.  

“This isn’t just up to customers, though. The whole industry needs to ensure people know they won’t be penalised for their mental health disclosures. The challenges of the last 20 months have highlighted the value of protection policies for families and individuals in difficult times. We need to make sure everyone knows there’s a policy for them, no matter what they are going through.” 

Related Posts

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Rail strikes: Your travel and refund rights

Thousands of railway workers will strike across three days this week, grinding much of the transport system to...

How your monthly bills could rise as the base rate reaches 1.25%

The Bank of England has raised the base rate to 1.25% as predicted – the fifth consecutive rise in just six ...

Low-income pensioner? You could gain £3k top-up

Hundreds of thousands of retirees struggling with a low income are missing out on Pension Credit worth £3,300...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week