Covid-19 (Corona Virus) and your life insurance and critical illness cover

Q - Will my existing policy pay out if I die from Covid-19?

In most cases, yes, if you took out the cover before contracting the virus. If you have an existing policy and you are diagnosed with the Covid-19 virus and subsequently pass away, you should be covered by the policy. Most insurers plan for the losses a pandemic case might bring, so this shouldn’t have an impact on your policy.


Q - Is Covid-19 covered in new life insurance policies?

If you take out a new life insurance policy from today, then the insurer may ask about your recent travels and potentially postpone accepting your application until they are satisfied that you are not at increased risk, but that will vary between providers. Rest assured, we are keeping up to date with this and will be able to find the best insurer for your circumstances.

Q - What if I am left with a lung condition after contracting Covid-19?

At present, it is believed that this is a rare event and that the majority of people, if diagnosed with Covid-19, will make a full recovery. However, if this event does occur, you are likely to be able to make a claim, but this will depend on the terms of the policy as mentioned above.

Q - What if I want to take out life insurance and I have recently travelled to China or other Covid-19 hotspots?

At present, the decision is likely to be delayed until the insurer has more information. If you have had a test for Covid-19 and the results are clear, then in most cases, there shouldn’t be a problem. Insurers will ask questions about your current state of health and whether you’re exhibiting any symptoms.

Please note…

As advice, information and updates on the Covid-19 virus are developing rapidly day by day, it is likely that the information required by insurers from customers looking for new life insurance policies will change. If you are looking to take out a new life insurance policy or renew an existing policy, please get in touch with us today so that we can find you the best policy to suit your circumstances, with as little hassle as possible during these uncertain times.

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