The Long Read
Everything you *need to know* is right above this. Scroll down, only if you'd still like to read more (honestly, why?)
Yes, you should. Whether you are undergoing therapy and treatment for your mental health challenges or did it in the past, you must disclose it to your insurer, even if it affects your chances of getting a term plan.
Why? To get the best term plan for your needs and ensure a hassle-free claim experience for your nominee.
Btw, when it comes to your health, you must always disclose all information correctly to your insurer to avoid claim rejection later.
During the term insurance application process, your insurer may ask you/your doctor for some additional information such as:
Nature, severity and time of diagnosis
Your treatment plan (including medication and hospitalisation) - both past and ongoing
History of hospitalisation
Present condition
Current employment status
History (if at all) of substance abuse and/or suicide attempts
Depending on the information you give, you can expect one of the following results:
Approved
Postponed
Rejected
P.S: It will, of course, vary on a case-by-case basis so consult your insurer today to know the exact requirements.
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