The new philosophy is based on a holistic assessment model which incorporates both the biological and psychosocial risks within the combined evaluation of risk of relapse of severe symptoms.
The model has been tested using data from real life examples, with the results showing that in approximately 15% of scenarios that were run through the model, ended up with a loading or at standard rates as opposed to a mental health exclusion clause.
We have recently updated our “Applicant’s Mental Health Questionnaire” to align with the new assessment model and enable us to collect all the relative information to make a fully informed assessment and ensure the best possible outcome for our clients.
We are confident that this new approach, which is a first in the Australian market, will allow us to offer a more comprehensive level of cover to clients presenting with mild cases of depressive and anxiety disorders.
You can download a copy of the updated “Applicant’s Mental Health Questionnaire” at https://aia.com.au/advisersite, on the left hand side under Procedures & Forms, Underwriting, or contact your State Office or CDM.