Many people in the UK suffer from depression or stress related anxiety and depending on the severity of the condition it may affect the ability to obtain life insurance or the price of insurance.

Very mild depression may have no affect on life insurance whereas severe depression or suicidal tendencies may prevent a person from getting cover straight away.

When the depression occurred will make a difference to an application for life insurance and if the depression occurred years in the past it is unlikely to have any affect.

Recently diagnosed depression may result in life insurance being ‘postponed’ until such time as the depression is under control. Suicidal tendencies may result in cover being postponed for up to a year.

If the depression is preventing an individual from working then ‘waiver of premium’ may not be available. Waiver of premium protects a life insurance policy in the event that a policy holder is unable to work due to serious illness or disability.

Because insurance companies are not all the same a qualified adviser can help by discussing your circumstances with insurance underwriters to find the most suitable life insurance company for the condition in question.

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