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Income protection insurance

5 replies

thehorseandhisboy · 14/02/2020 19:44

The self-employed section seems to have disappeared, so posting here.

I'm looking into options re: income protection. I've been self-employed for 12 years, just turned 50, not had a day off sick since 2005.

However, my medical notes will show a long hx of mental health problems, most recently a short hospital admission for PND in 2010. I've been on anti-depressants ever since, but manage a busy and fully life.

Is there any point in me going any further with my application, or will I likely fall at the hurdle of them contacting my GP does anyone know?

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thehorseandhisboy · 14/02/2020 19:45

PND was while I was on maternity leave btw. Back at work a few weeks later.

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TabbyStar · 14/02/2020 19:55

I might be misremembering this, but I think you can either just buy it and then they screen for pre-existing conditions if you claim, or you can get it underwritten specifically for you, in which case it might cost more but you're more certain what can and can't be included. I might be making that up though, it's a while ago I looked! I'd speak to a specialist broker who deals with pre-existing medical conditions.

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thehorseandhisboy · 14/02/2020 20:01

Thanks. I've been speaking to an IFA who asked if I had any pre-existing conditions. I didn't think to mention mental health as it's completely under control and I honestly can't envisage ever having time off work for it (never have before).

I'm speaking to him again next week, and I'll drop him an email before to mention this as a pre-existing condition.

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Oxo01 · 21/02/2020 16:39

They want all your medical history, and will not usually cover these should you need to claim
They also for any claim will seek Information from GP before paying out for sickness.
Re: MH study the small print for example even if you claimed never claimed before for being off work for stress / depression they will quiet often say this is not covered unless you are / have seen a psychiatrist.
All the PPI scandles recently where PPI was not suitable for them, is: self employed however as others have said get advice as there maybe ones that are suitable for you.

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thehorseandhisboy · 21/02/2020 17:25

Thanks. I've submitted an application and will wait to see if I'm accepted.

I've specified that I'm happy to have a mental health exemption.