What About Covid-19?

Updated 2 April 2020

Existing Policies

Life Insurance

Existing Life Insurance policies will cover policyholders in the event of their death by Coronavirus COVID-19.

Critical Illness Cover

Although Coronavirus COVID-19 is not covered specifically by any Critical Illness Policies, most policies include a Life Insurance element which would apply to Coronavirus COVID-19 in the event of the policyholder's death.

Income Protection Insurance

Existing policies will cover the effects of Coronavirus COVID-19

New Applications

New applications for Life Insurance or Critical Illness Cover for people with underlying health conditions vulnerable to the Coronavirus COVID-19 are likely to be subject to significant monthly premium increases compared to healthy individuals, and some people may not be offered insurance.

Insurers have already made a number of changes to new Income Protection policies to exclude Coronavirus COVID-19 because the risks of a claim have increased dramatically.

The general guidance is that if you are thinking of getting Life Insurance because of Coronavirus COVID-19, you are better applying sooner rather than later to beat any changes that may or may not come in.

Recently laid-off? Remember you may no longer have a death-in-service benefit (ie Life Insurance) from your employer, and some life insurance would be better than none at all.