On 10 October this year, countries all over the world observe World Mental Health Day. According to the World Health Organization, the day 'raises public awareness about mental health issues' and 'promotes open discussion of mental disorders and investments in prevention, promotion and treatment services'.
In support of World Mental Health Day and in the spirit of raising public awareness around mental health issues, it is important to note that mentally disabled children can be provided for as beneficiaries to a 1Lifedirect policy. Parents of mentally disabled children can take the opportunity to consider who will protect and take care of their mentally disabled loved one. Make provision for when you pass away, for your child to be in good hands. You could give them financial comfort, by listing them as a beneficiary to your life insurance policy from 1Lifedirect.
In your absence one day, there are institutions who can take good care of the mentally disabled. You could list one such institution as a beneficiary of your life cover. They will use those funds to take care of your loved one when you are no longer there. Alternatively, you can leave a last-will-and-testament which states who will take care of your estate when you are no longer there. That same person can be the guardian to your child with mental disability. Therefore they can be the trusted beneficiary who will have custody of the funds for your child’s wellbeing.
Although persons with disability can be listed as beneficiaries to a 1Lifedirect policy, they might not have mental capacity to enter into a contract to become policy holders. If a person is not gainfully employed and independent, they therefore cannot suffer a financial loss in a sense. Thus they should not take out a life cover policy on their life. It is also important to note that mental disability is not the only reason why 1Lifeirect would consider an individual uninsurable. You might find your cover declined for the following reasons:
Age: life insurance will not be granted to neither minors, nor to those over 65 years of age
Avocation: dangerous hobbies like sky-diving or BASE jumping
Vocation: high-risk jobs, for example soldiers
Please contact our client services team on 0860 10 53 40 if you have any queries about whether or not you would qualify for life insurance.