Mental health – Protection within your insurance plan

Mental health is a big part of life—for society as a whole and for many of our clients. Just like with a serious illness like cancer, mental health challenges aren’t always obvious, and they can’t just be shaken off or ignored. They often creep up unexpectedly and can feel just as overwhelming when you realize what’s going on.

Getting the right treatment early is crucial, and recovery can take time, patience, and a lot of effort. That’s why claims for mental health support are so important—not only to the insurers but also to us at Financial Independence as advisers. We’re committed to helping our clients navigate these tough times.

To give you a better idea of what this looks like in real life, we’d like to share three stories from clients who have experienced mental health struggles. While we’ve kept their identities private, their journeys offer insight into how important it is to have the right support when facing mental health challenges.

 Case studies

1. I was speaking with a client who had just gone through a sudden and heartbreaking loss. I asked her how she was doing, and her response was, “not that great.” She was battling panic attacks just trying to leave the house, and getting through a full workday was becoming nearly impossible.

I suggested she see her doctor and be completely open about how she was feeling. This was a big step for her—she’s always been a strong, independent person. But being honest with her doctor set off a chain of events that got her the help she needed.

She was diagnosed with a mental health condition, and her doctor advised her to take some time off and seek professional support. That’s when Financial Independence stepped in. We were able to trigger a claim under her Mortgage Protection policy, and after the waiting period, she started receiving monthly payments that covered her mortgage. On top of that, her insurer paid for the counselling she needed until she felt ready to get back on her feet.

I’m happy to share that this client is now working again, and she often speaks about how much the support meant to her during one of the hardest times in her life.

2. Last year, I got a call from a young client—a 24-year-old who had just bought a new business. He was finding it really tough to keep up with the heavy demands of the job week after week. At first, he wasn’t able to handle about 50% of his role due to depression, but thanks to his Mortgage and Income Protection policy, he was able to go on a partial claim. This also gave him access to the counseling and treatment he needed.

Unfortunately, over time, he couldn’t perform his role at all and had to move to a full claim. With a new mortgage hanging over him, this cover was a lifeline—without it, making those payments would have been a real struggle. He’s still on claim and is getting the help he needs to eventually return to work.

I check in with him regularly, and it’s always great to hear about his progress. He’s really grateful for having the policy in place and for the support he’s received along the way.

3. I recently worked with a young man, just 26 years old, who had been experiencing increasingly severe panic attacks. These were not only disrupting his daily life but also starting to interfere with his work. He had a Mortgage and Income Protection policy, so I suggested we contact his insurer to see if we could prevent a full claim situation.

Thankfully, the insurer was willing to help and agreed to cover 10 sessions with a psychologist. This early intervention made a huge difference, and today, he’s doing really well. It’s a great reminder that getting help early can go a long way in preventing something more serious, just like with any other illness.

Our Role as Your Insurance Adviser:

We’re here to support you if you ever need to make a claim—whatever the reason. If you don’t yet have Mortgage or Income Protection and want to know more, feel free to reach out to us at customersupport@youradviser.co.nz.

None of the clients in these stories thought they would ever need to rely on their cover, but they are incredibly grateful for the support it provided when they needed it most.