Does the predicted rise in mental health claims reflect your own experience in your advice practice?
- No (44%)
- Yes (42%)
- Not sure (14%)
Loading ...A Swiss Re underwriter says longer claims for mental health issues are on the cards, saying during an Financial Advice NZ webinar that people are struggling with mental health conditions due to covid stress, loneliness, and money worries.
Cara Jiao says mental illness makes up 20% of all sickness claims in New Zealand, and that while the figure has been stable, the length of time on claim is getting longer.
“Mental illness is the challenging one from a claims experience,” she said. “There is also a long delay in mental illness reporting. In that people have had mental health [issues] for some time before they lodge a claim. But the treatment cost is high, so that remains a challenge.”
This week, we are asking for your take on health cover claims for mental health.
Cast your vote today and we’ll report back in next week’s news email with the result. Keep up to date with our weekly news here.