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Travel insurance policies commonly have an automatic exclusion relating to supplying cover for persons who have or have had what are categorised as 'psychological conditions'. This consists of depression, anxiety, schizophrenia, phobias etc.
Why is this?
Travel insurance, like any other kind of insurance, is structured and priced right after the underwriter of the policy has gone by way of a risk assessment of what they really feel able to cover and not. Insurers will want to present a policy that is helpful, cover what's usually expected to be covered, match or greater what their competitors are covering, at a reasonable price and which will make a degree of profit.
Clearly, the quantity of cash collected from shoppers in premiums has to meet the operating costs of the policy - the largest of these will be claims. Too numerous or huge claims run the risk of bankrupting the policy and the insurer will then withdraw it - no excellent for any person in that circumstance.
Hence, the insurer will look cautiously at the balance in between pricing the policy and what's an acceptable level of risk that it will cover.
Typically, insurers do not like to supply cover for mental wellness conditions due to the fact of their experience of claims related to those conditions.
This automatic exclusion is not restricted to mental health conditions. Insurers often automatically exclude cover for a entire range of medical conditions and situations. For example, it is particularly challenging to discover a travel insurance policy that will cover somebody if they have been given a terminal prognosis. An insurer will not meet a claim where they feel the claimant has contributed to the circumstance that has given rise to the claim. So if an individual gets drunk, falls more than and injures themselves or walks out into a road and gets knocked over, the insurer may nicely decline that type of claim.
Understandably, countless people who have or have had depression feel that an automatic exclusion of cover is unreasonable. According to 1 of the UK's leading mental well being charities, MIND, one person in 4 is likely to experience a mental wellness challenge at some point in their life!
Again, understandably, there can be the perception that every person with a mental health condition is getting regarded as the similar by insurers and pose the similar level of risk, which is, of course, ridiculous. Countless folks who encounter depression, for example, are either on medication or see a counsellor/psychotherapist and feel that their condition is stable and well-managed. This can be observed as comparable to individuals who have high blood pressure or cholesterol but whose condition is also managed. They usually feel that they for this reason do not have a pre-existing medical condition and don't will need to declare their situation to a travel insurance provider.
Still, any medical condition that exists at the time of taking out travel insurance, whether or not physical or mental, really should be declared. If the insurer agrees to cover it, any claims related to it will be met.
The danger is that if a condition isn't declared and accepted by an insurer, any claim, directly or even indirectly related to it, could be declined. This could lead to especially high medical bills that would have to be met by the claimant.
But it is not only medical bills that a person could have to meet. Travel insurance offers cover for cancellation so if somebody is medically unfit to travel, they can claim for their travel and accommodation expenses. If somebody cancels their trip, an insurer will, as a matter of course, acquire medical reports and check if the claimant had any medical conditions at the time of taking out the insurance that could have had a direct or indirect influence on the claim. If so, and if the condition(s) hadn't been declared and accepted for cover by the insurer, the claim could be declined.
An individual who has or has had a mental well being condition could face this risk.
So, what's the answer if you are an individual with a mental well being condition and you wish to travel and make sure that you have comprehensive travel insurance? There's no alternative but to do some research and narrow it down to discovering a travel insurance provider who will cover your condition.
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