Sadly, serving in the Armed Forces makes you more susceptible to suffering a mental health illness. This could affect your ability to obtain life insurance.
The amount of military personnel suffering from post-traumatic stress disorder (PTSD) has risen +2% over a 10 year period[6].
PTSD and depression are strongly correlated with the following which can all impact your premiums or ability to secure cover:
Excessive drinking/alcoholism Drug and narcotic abuse Reckless behaviour Self-harm and suicide
Due to the health-related issues and risk imposed, insurers will load premiums to mitigate their risk of paying out.
If you suffer from PTSD, substance misuse or attempted suicide, it’s essential you disclose this during the application, as failure to do so could invalidate your policy.
Most policies include a suicide clause. This often refers to the first two years of the policy where if suicide occurs a pay out won't be made and depending on your personal experience with mental health issues, exclusions relating to suicide after this two year period may be applied.