How will the current Coronavirus & COVID-19 Pandemic affect your Life Insurance?

There have been several news stories about insurance companies refusing to cover claims relating to COVID-19. Many of these articles relate to business insurances, not your personal cover. We’re here to answer some of your questions about your life insurance and coronavirus.

Existing Customers:

There are no changes to your existing policies to specifically exclude Coronavirus & COVID-19 incidences & conditions. The main factor will be the conditions already laid out by your policy. 

New Customers:

Have you been diagnosed with COVID-19, or told to self-quarantine due to exposure to someone infected with COVID-19?

Why Get Life Insurance?

You insure your home & car. Insure the most important thing, your life. Protect your family in the event of sudden death or illness. 

We work with a number of insurers, and can find you a cheaper price, or a product that will give you greater value.

Get Life Insurance from us

  • Qualified Financial Advisors.
  • Impartial Advice.
  • Up to date pricing.
  • Find you the best price in the market.
  • Expert analysis, help & explanation.
  • Apply online.

YES: Your new application will be subject to a postponement period, while the results of your tests are outstanding.

If NO: Your new application will be subject to the usual underwriting and review process. No additional waiting periods will be required.

IMPORTANT: Please be completely honest on your application form. Approval based on misinformation may mean that any claims will not be upheld. It’s not worth it.

Possible Delays

Are you waiting on the results of tests? Any outstanding test results can create a slight delay for your application. Again, please disclose if you’re waiting for COVID-19 test results. Delays will be increased while Nurse and Doctor medicals aren’t available. Remember that a postponement isn’t the same as having your cover declined.

Were you asked for more information about other recent tests?

Before you worry about trying to contact your doctor, check if you have a copy of their report at home. A scanned copy of this may answer all of your insurer’s questions, and speed up the process.

Will a PMAR delay your policy?

Not necessarily more than usual. Remember that you don’t have to be present for a Private Medical Attendant’s Report. As many GPs are unable to run open surgeries at the moment, they may have more time to complete the paperwork & send it back to your insurer.

You need a Medical or Nurse Screening?

This one will result in a delay. Your policy will be postponed until we’re all able to do our jobs face-to-face again. If you’re replacing a policy, it’s extremely important right now that you don’t cancel any existing policies until your new cover is in place.

How Long Will This Take?

As usual, all policies are different, because all customers are unique. Some underwriting decisions can be made in minutes, and you may be able to get cover within a day. If there’s anything you think might cause a problem for you, get in touch with us. Answering these questions is what Financial Advisors do. 

What the Insurance Companies Say:
COVID-19 & Claims on Existing Policies:

Irish Life

Life CoverNo Change, a COVID-19 claim will be paid.
Specified IllnessCOVID-19 not listed as a condition. A client may be eligible to claim for conditions arising from C-19 if the policy definition is met.
Income ProtectionIf you meet the definition of disability as per your policy conditions, your claim will be paid after your deferred period. Self-isolation as a precaution is not considered illness or injury.

New Ireland

Life CoverNo Change, a COVID-19 claim will be paid.
Specified IllnessCOVID-19 not listed as a condition.
Hospital CashCOVID-19 hospitalisation is covered under policy terms. Quarantine elsewhere isn’t, incl hotels.
Income ProtectionIf you meet the definition of disability as per your policy conditions, your claim will be paid after your deferred period. No new conditions will be imposed.

Royal London

Life Cover

No Change, a COVID-19 claim will be paid.

Specified Illness

COVID-19 not listed as a condition. A client may be eligible to claim for conditions arising from C-19 if the policy definition is met.

Hospital Cash

COVID-19 claims will be considered, providing they meet the 7 day minimum stay in a registered hospital, on the advice of a registered medical doctor.

Income Protection

If you meet the definition of disability as per your policy conditions, your claim will be paid after your deferred period. Claimants who have been made redundant and become ill may be able to claim under the Essential Activities Benefit.

Multi-Claim Protection

COVID-19 is not listed as a specified condition, but there are also no C-19 exclusions. Some claims for conditions and treatments arising from C-19 may be eligible, within the policy conditions. MCPC policies will pay out on claims if death occurs due to C-19. 

Zurich Life

Life Cover

No Change, a COVID-19 claim will be paid.

Specified Illness

COVID-19 not listed as a condition. A client may be eligible to claim for conditions arising from C-19 if the policy definition is met.

Hospital Cash

COVID-19 hospitalisation is covered under policy terms, for stays of the minimum 3-4 days. Quarantine elsewhere isn’t, incl hotels, cruise ships, etc.

Personal Accident Benefit

Only payable for accidents caused by visible, violent, external means. COVID-19 diagnosis doesn’t apply. 

New Applications & COVID-19 Diagnosis:

Irish Life

Life Cover

If you’ve had a recent COVID-19 diagnosis, your application will be postponed until a short period after you’ve recovered. This postponement time can vary between 1 & 3 months, depending on the insurer. These estimates may change with each insurer as we get more information on COVID-19.

Serious/Critical/

Standalone Illness Cover

Income Protection

New Ireland

Life Cover

If you’ve had a recent COVID-19 diagnosis, your application will be postponed until a short period after you’ve recovered. This postponement time can vary between 1 & 3 months, depending on the insurer. These estimates may change with each insurer as we get more information on COVID-19.

Serious/Critical/

Standalone Illness Cover

Income Protection 

Royal London

Life CoverIf you’ve had a recent COVID-19 diagnosis, your application will be postponed until a short period after you’ve recovered. This postponement time can vary between 1 & 3 months, depending on the insurer. These estimates may change with each insurer as we get more information on COVID-19.

Serious/Critical/

Standalone Illness Cover

Income Protection
Multi-Claim Protection

Zurich Life

Life CoverIf you’ve had a recent COVID-19 diagnosis, your application will be postponed until a short period after you’ve recovered. This postponement time can vary between 1 & 3 months, depending on the insurer. These estimates may change with each insurer as we get more information on COVID-19.

Serious/Critical/

Standalone Illness Cover 

So if you’re worried about your existing cover, don’t be. And if you want to protect your home, your family, or your income, now is still the time.

We can send you a quick quote with all your options. We’re happy to answer any questions you have, get in touch with us.

About Debbie Cheevers

Debbie qualified as APA in 2017 and a fully qualified financial advisor (QFA) in 2018. She believes that product knowledge is key to helping customers make the right choices.

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