Life Insurance after BPD diagnosis, any ideas which companies would offer cover?

[passthemustard]

I have a diagnosis of BPD on my medical records after a bit of a breakdown a few years ago.

I need to renew my life insurance but my last company won't insure BPD.

Any ideas for a company that will?

This is the sort of situation where using a broker to do all the legwork for you can be really worthwhile rather than trying to sort it out yourself.

Agree with the above as they can do pre-underwriting checks. Who will insure you will depend on when diagnosed, medication, when last symptoms were, etc

I have Bipolar Disorder which is currently stable. I got life insurance through ' Dead Happy'
Sounds dodgy but they do seem very good!

I used a broker and he couldn't find anything 🙄

I will look into dead happy thank you 😃

I work in this sphere and can tell you covid has caused carnage with insurances, but if its not a recent diagnosis and it is controlled with meds I'd be tempted to Google brokers and try another one. Sounds like the broker either wasn't particularly experienced or covid has had an impact.

Most insurers are declining policies if the increase in premium is greater than 200% and that may be causing a problem.

@Orangesandlemons82 I've just signed up to dead happy. It seems a bit easy and too good to be true. Didn't even ask me to disclose much. I told them I'd been on ADs in the last 5 years and that I haven't been ill in the last 2 years, all true. Is it really that simple?

@letsnotscaretheneighbours thank you, diagnosed about 4 years ago but I'd actually like to contest the diagnosis. I'm not on any medication at all and after my little breakdown I've gone back to being a stable and functioning member of society 🙄 but no idea where to start getting something removed from medical records 😬
I've signed up to dead happy, fingers crossed they pay out if anything happens to me!

@passthemustard yes, it really is. I have been with them a few years now. I spent quite a lot of time researching as it seemed to be too good to be true but it all checked out. They were helpful when I needed to renew my policy and had a query.

Some insurers insist on full medical underwriting upfront, which can be a bit time consuming and cost a little more but it usually means that they will be unlikely to quibble about paying an eligible claim if one is made.

Set-ups like Dead Happy who don't ask for a full medical history have lower initial costs so can be more competitive on price BUT are more likely to be awkward at the claim stage because that's when they will delve into the medical history and find reasons not to pay. They are taking a punt on the fact that many people are unlikely to ever claim so the more volume they can get on the books by being easy to do business with initially the better for them.

@passthemustard I am surprised that your broker was unable to get you cover then tbh.

Just as an aside can I please ask everyone who has life insurance for family to ensure it is in trust. Its a simple free form through the provider and means the pay out won't be subject to inheritance tax or probate (currently).

Totally agree with @letsnotscaretheneighbours and also surprised a broker couldn't help- would really recommend using a good one!

I have BPD (not bipolar) and am with Beagle st

@Evvyjb how easy was it to sign up? Did they get your medical records? Is it very expensive?

@letsnotscaretheneighbours I already have a family trust set up, I assumed anything from my estate goes into the trust to be distributed as per my wishes? Do I still need to fill in a form from the insurers?

@passthemustard under those circumstances I'd check with the solicitor that arranged the trust because there may be different considerations (legally) that I'm not qualified to advise on, or they may need to add it in.