• Gurt Rai

Corona Virus and Life insurance, where do you stand?

Updated: Jan 18, 2021

We’re living through difficult times. With thousands of lives lost and the threat of the coronavirus constantly on our minds, now more than ever people are concerned with life insurance and taking care of their loved ones if the worst happens. But what is the impact of corona virus (also known as Covid-19) on life insurance? What happens if you don’t already have cover in place?

The NHS is working full tilt during the COVID pandemic

The changes to life insurance due to the virus are minimal, if you have a policy this would continue to go on as normal and if anything were to happen it would be treated the same as any other illness. However, if you are looking to buy life insurance now there are a few slight changes to the process. The life insurance companies have developed specific questions that will assess the risk around coronavirus for new applications. This way all aspects of your health and medical circumstances can be assessed.

These include questions like:-

  • Have you tested positive for coronavirus?

  • Are you currently self-isolating?

  • Have you had any symptoms of coronavirus?

  • Have you been in direct contact with anyone who has been diagnosed or suspected of having coronavirus?

If you answer yes to some of these questions your decision may be delayed until you have recovered. The decision may vary between insurers.

In addition all ABI (Association of British Insurers) registered protection insurers have committed to support the NHS, those making a claim and vulnerable customers. So as much as these times are unprecedented and leave us with many unanswered questions, we hope you can find comfort in the fact that ABI protection insurers have committed to do as much as they can to support you in making a claim.

Everyone at Life Cover Direct wishes you good health during these difficult times. Please stay safe and feel free to contact us if you have any questions about getting any life, critical or income protection insurance arranged.

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