The Impact of Psychological Well-being on Finances and Loan Insurance

Last October 10, the 31st^e edition of world mental health day. The opportunity to highlight these often overlooked disorders, but can have a major impact on the lives of the people concerned. These psychological conditions encompass a wide variety of disorders, ranging from temporary depression or burn-out to certain psychiatric illnesses such as schizophrenia or bipolarity.

Some may be benign and temporary, while others may require therapeutic monitoring or even drug treatment. In any case, it is important to remember that it is never too late to take care of your mental health, that these diseases can still be controlled and treatedand that there is no taboo or shame in turning to a specialist in case of doubt.

Young people increasingly concerned

On the occasion of this day, the Public Health France organization published during the weekend a report highlighting a deterioration in the mental health of the Frenchparticularly marked among adolescents (11-17 years) and young adults (18-24 years).

According to the figures put forward in the investigation, l20.8% of 18-24 year olds were affected by depression in 2021, compared to 11.7% in 2017. In addition, among 17-year-olds, 9.5% were affected by severe anxiety-depressive symptoms in 2022, compared to 4.5% in 2017.

To deal with it, Public Health France is trying to raise awareness among young people about these themes via the broadcast of several videos on social networks, in order to decipher behaviors allowing you to take care of your mental health. The agency also highlights certain behaviors that can help, such as:

• engage in physical activity;
• sleep enough and at regular times;
• take time for leisure and/or a hobby;
• help others.

Mental health and loan insurance

In certain situations, psychological illnesses are part of non-objectivable illnesses (MNO) which can lead to a temporary or lasting incapacity for work, and therefore indirectly to certain financial difficulties. These conditions are considered aggravated health risks subject to additional premiums or exclusions from coverage for insurers.

However, it remains possible to carry out a guarantee redemption if you wish to cover these psychological risks, . In addition, not all loan insurances apply the same guarantee activation criteria for this type of risk. It is therefore advisable to compare offers and put them in competition in order to find the most suitable coverage for this type of situation.

Finally, when a psychological pathology prevents access to borrower insurance, recourse to the AERAS convention (Insuring and Borrowing with an Aggravated Health Risk) can in certain cases allow you to insure your loan by avoiding additional premiums and guarantee limitations.