Mental Health Claims Increase in UK
The number of UK employees claiming for psychiatric disorders on income protection and health insurance policies is steadily increasing. Research by insurer Aviva shows that in 2011, conditions like depression, stress and anxiety were the biggest cause of claim on its income protection cover for both individual and corporate customers, with 28 per cent of claims related to such conditions.
Of all income protection claims made in 2011 for psychiatric conditions, moderate depression was most common (28 per cent), followed by anxiety (15 per cent) and stress (12 per cent). The average age at which employees began an income protection claim for a mental health condition was 43. The average time in claim for such a condition was nine years. Income protection provides cover for those who are unable to work due to accident or illness. It is particularly recommended for those with a home loan or large debts, who may be unable to meet financial commitments without a regular income stream.