Lived Experience Forum

[JayL]

Hi everyone, 

When I was young I cancelled my automatic insurance coverage through my super. 

I'm no longer eligible since having trouble with depression and BPD. My applications get rejected, I've tried different superannuations and insurance companies but no luck. 

Has anyone got a policy with someone that will insure people with mental illnesses. Getting a bit frustrated and regretting somewhat on seeking help openly. 

[Shaz51]

Hello @JayL and welcome 

I will tag a few members for you That may be able to help you 

@eth , @BPDSurvivor , @Appleblossom , @Mazarita , @BlueBay 

[Anastasia]

Hi @JayL 

Sorry you're having trouble finding cover to date. Is it life insurance? 

I have no inside knowledge for a company, but I did google and found that it is "unlikely that it will be denied as a result of mi etc etc."

In saying that I have worked in Insurance and I know everything is based around risk. You will have to disclose every detail and they will carry out a risk assessment.

My thoughts are that the cover cost would be slightly greater than someone without mi because the premiums are based around the level of risk for them to make a payout. Does that make sense Jay? 

I wish I could give you the name of an insurer. Can I suggest calling iselect to do the work for you? I did that for my health fund and it saved numerous calls. I then just called who they suggested to 100% confirm info was accurate, it was and I saved hundreds in my monthly payment and got better cover. 

Lastly Jay, are you ok? I'm here to listen if you need or want to offload? 

Hugs friend, please take care 🤗

[Appleblossom]

Sorry @JayL I dont know much.  Hearing you about some consequences of declaring MI status.  Its not as simple as some people pretend.

Take Care

Apple

[SmileyN]

Hi JayL

You will find it hard to get insurance, and if you did they would probably charge you high premiums and have an exclusion mental health conditions.

What you can look at is joining an industry fund with default cover or applying for insurance within your existing superannuation fund. However, definitely read the terms and conditions or even call them. They typically have advisors for you to talk to who can point you in the right direction. That would be the first place I went to in your position.

Hope that helps 🙂 

[BPDSurvivor]

Interesting @JayL ...

Ive never considered mine. I've had BPD for most of my working life, and I don't remember having to write anything when joining super funds. As far as I know, I have income protection through my super fund irrespective of whether I have a MI or not.

I was just rolled into a super fund. I didn't really choose. We can't really say which fund is better than others, but I suggest you look at the top super funds announced just this week. Conversely, these results also tell you the worst superfunds. Do a search, and hopefully it will come up.

As for insurance, are you talking about health insurance?

@SmileyN @Appleblossom @Anastasia @Shaz51 

BPDSurvivor