Some young people with health problems simply give up at the starting gate and begin a life on benefits for 40 years until their state pension kicks in.
Each successive year on sickness benefits makes it tougher to convince employers of their worth. A great and needless loss of talent to the nation of some brilliant young minds.
Fortunately, for those already in work, policies are humane, with employee assistance polices standard practice and employee wellbeing a top priority.
The brutal 1970s policy of simply sackings the long-term sick has long gone. Now, for some, there is a planned welcome back to work. A few go on to do great things for the economy.
So why not give more give young people with poor health history a decent start to their working life too?
From the niche to the mainstream?
Serving the vulnerable has become mainstream. Yet sufferers are often poorly served.
Just one example highlights the problem: travel insurance for a depressed old lady for a short holiday to Malaga in Spain costs more than the cost of the flight.
Is it really so impossible to provide comprehensive cover at reasonable cost? Perhaps with few players and brokers in this specialist market, insurers can charge what they like? The arcane art of underwriting is a mystery to all but a charmed circle.
Not everyone with a current or former mental health condition is a stereotype ‘victim’ needing charity. They may be your colleague at wok or your next door neighbour.
They may even be comfortably off and prepared to pay high prices for the best advisory services from travel insurance to discretionary investment management, but few in the industry are willing to dip a toe in admittedly somewhat choppy waters.
Every adviser needs strategy and training on how to treat vulnerable clients, whose needs may not be obvious. Failing to do so could be a breach of the new consumer duty rules, in force from July.
One day a new client may knock on your door in search of life assurance; as the conversation develops he or she seems depressed or possibly having suicidal thoughts.
Do you know what to do next? Have you got the telephone number of the Samaritans charity, for example, at your fingers tips?
What about longstanding clients after years of good 'financial hygiene' who become lax at dealing with correspondence? Do you visit their homes?
Or are you simply happy to have clients who don’t make trouble and keep the annual fees rolling in deducted before the client even sees his or her monthly statement.
