While the majority of the protection industry provides mental health support more could be done to raise customers’ awareness of how to access it.
According to Cirencester Friendly director of customer experience, Michelle West-Wiggens: "“There is no doubt more could be done to make customers more aware of what they are entitled to and how to access services”.
Speaking on Mental Health Awareness Week, which runs from 13 to 17 May, Protection Guru head of research, Adam Higgs, said the industry has "a huge role in supporting its clients with mental health both via preventative and rehabilitative services".
He added: “Perhaps the biggest challenge is getting clients using the services available to them.
“As an industry we could be much better at speaking to clients on an ongoing basis and reminding them of the additional benefits available to them.
“As it is, these benefits may or may not be spoken about at inception of a policy and then quickly forgotten.”
Other challenges
Other challenges were identified by The Income Protection Task Force co-chair, Vicky Churcher, who said: “The current state of the industry highlights both progress made and existing gaps in adequately supporting mental health concerns.
“Challenges include stigma, underwriting complexities, and accessibility to insurance barriers.”
Churcher suggested that, to address these issues, action is needed, such as destigmatising mental health discussions, enhancing underwriting practices, and expanding and simplifying access to mental health resources within protection propositions.
“By prioritising mental health within the protection industry, we can better serve our collective customers, promote overall well-being and expand the market to those who need it most,” she added.
West-Wiggins also pointed out a challenge for the industry, identifying a gendered disparity when it comes to mental health coverage.
“While only 5 per cent of our overall claims in 2023 related to mental health, this figure is far higher for female claimants,” she explained.
“16 per cent of their claims relate to mental health, the third most common reason to make a claim.
“These figures suggest there is still a reluctance for men to seek help around their mental health, so as an industry we need to explore how we can help them reach out for support when they need it.”
Importance
The importance of mental health support was outlined by Reframe Cancer CEO, Mark Stephenson who pointed out how it can work in tandem with other services offered by the protection industry.
“This year, 160,000 people of working age will be diagnosed with cancer and well over half of all critical illness claims are for cancer, which means more consideration needs to be given to providing mental health and wellbeing support specifically for cancer,” he explained.
“Not only is it a highly stressful experience, even if you had no mental health concerns prior to diagnosis, and it is not uncommon to struggle with feelings of anxiety and the overall mental weight.”
The importance was also highlighted by West-Wiggens who said: “We know there is a clear link between financial difficulties and poor mental health, so having the financial security that protection provides can make a huge difference to overall wellbeing.
