Life Insurance  

People with mental health conditions feel 'uninsurable'

Additionally, 38 per cent of respondents who had applied for protection said they were either turned down completely, or told to apply at a later date. Over half (54 per cent) said they were not provided a reason or explanation, while 52 per cent felt the rationale had not been made clear to them.

The survey also found that over half (52 per cent) would consider downplaying their mental health in future if they applied again, after being refused cover or offered exclusions.

However, protection provider Aegon has warned of the risk with submitting false information during the application process, after it reported a rise in the number of life insurance claims it was unable to pay due to misrepresentation last year.

chloe.cheung@ft.com