Is your practice experiencing more clients lodging claims for mental health-related conditions?
- No (50%)
- Yes (38%)
- Not sure (12%)
Loading ...Our latest poll is querying whether advisers are seeing more clients lodging claims for mental health-related conditions and comes in light of AIA NZ’s report on its 2024 claims data which puts a spotlight on mental health.
The insurer says that the Ministry of Health estimates that around half of New Zealanders may struggle with their mental health at some time in their lives (see: AIA Pays $830 million in Total Claims).
It adds that poor mental health has been identified as one of the five major non-communicable diseases including cancer, diabetes, respiratory diseases and heart disease that cause over 90% of deaths in New Zealand.
In its 2024 Claims Compass the insurer says it paid $25.7 million towards mental health-related claims in the year and $8.1 million for suicide claims. In the 2023 year it paid $22.3 million in mental health claims and $11 million in suicide claims.
The top 2024 AIA mental health claims were:
- Depressive disorders – 44%
- Anxiety/panic disorders – 14%
- Post Traumatic Stress Disorder – 4%
- Chronic Fatigue Syndrome -3%
- Chronic Pain Syndrome – 2%
And, the company says, the group most affected by – and claiming for mental health related support – are customers aged between 40 and 59 ($17.7 million), particularly men.
This had us pondering whether you are noticing more of your clients lodging claims for mental health-related conditions and just how prevalent it is.
We’re keen to know your thoughts and we’ll report back next week…