These are uncertain times. The COVID-19 pandemic has changed the way we live and work. At Finadv, we want to clarify any questions you may have regarding how COVID-19 Pandemic might affect your Life Insurance.
The answer is, Yes. In the event of death any existing Life Insurance Policy will be paid out. Rarely, some insurers have pandemic exclusion written into policies. In such cases Corona virus will not be covered. This can be clarified by looking into your policy documents.
The answer is, No.
COVID-19 is a new disease and it is highly unlikely that it will be listed as a defined illness in a critical illness policy.
However, because of corona virus, if you develop an illness that is listed on your policy, such as respiratory or heart failure, it’s likely that your claim will be paid.
The answer is, Yes.
Since the onset of COVID-19 there has been an increased demand for both Life and Critical Illness policies. The pandemic has forced many life insurers to add additional medical questions specifically around COVID-19. As always, it’s vital to be completely honest while completing the health questionnaire.
The answer is, Yes. If you have an existing income protection cover in place, you should be covered. Income Protection is designed to pay out if you are unable to work due to illness or injury. Therefore, if you are unable to work because of corona virus you may be able to claim.
With the spread of Coronavirus, people have become increasingly worried about the impact the pandemic can have on their insurance policies. People who are looking to review their protection needs are also left with a lot of unanswered questions.
In this unprecedented scenario insurers are constantly working and adapting to support their customers. We have culled out various statements and their links released by providers to keep their clients informed.
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Neither Finadv Limited, nor Sesame Ltd, is responsible for the accuracy of the information contained within the linked site.
