  Using a variational approach, the binding energies $E_b$ of the lowest bound
excitons in Xenes under varying electric field are investigated. The internal
exciton motion is described both by Dirac electron dispersion and in
effective-mass approximation, while the screened electron-hole attraction is
modeled by a Rytova-Keldysh potential with a 2D electronic polarizability
$\alpha_{2{\rm D}}$. The most important parameters as spin-orbit-induced gap
$E_g$, Fermi velocity $v_F$ and $\alpha_{2{\rm D}}$ are taken from ab initio
density functional theory calculations. In addition, $\alpha_{2{\rm D}}$ is
approximated in two different ways. The relation of $E_b$ and $E_g$ is ruled by
the screening. The existence of an excitonic insulator phase with $E_b>E_g$
sensitively depends on the chosen $\alpha_{2{\rm D}}$. The values of $E_g$ and
$\alpha_{2{\rm D}}$ are strongly modified by a vertical external electric bias
$U$, which defines a transition from the topological into a trivial insulator
at $U=E_g/2$, with the exception of plumbene. Within the Dirac approximation,
but also within the effective mass description of the kinetic energy, the
treatment of screening dominates the appearance or non-appearance of an
excitonic insulator phase. Gating does not change the results: the prediction
done at zero electric field is confirmed when a vertical electric field is
applied. Finally, Many-Body perturbation theory approaches based on the Green's
function method, applied to stanene, confirm the absence of an excitonic
insulator phase, thus validating our results obtained by ab initio modeling of
$\alpha_{2{\rm D}}$.
