Mortgage Protection and the Corona Virus

Existing policy holders and people intending on buying life insurance or mortgage protection insurance have questions on the implication of the Corona Virus for their cover. Some frequently asked questions are considered below.

This update based on communications received form Life Insurance Companies as at 30/03/2020.

Are still accepting applications for Life Insurance and Mortgage Protection in the normal way?

Yes, we are still accepting applications in the normal way.  
There have been no increases in rates on account of the Corona Virus.
To apply for Life Insurance or Mortgage Protection insurance please click Here

(As at 30/03/2020)

Will the virus have any implications for claims under a Life Insurance or a Mortgage protection policy?

Existing Life Insurance and Mortgage Protection Insurance cover will not be impacted by COVID-19. In the unfortunate circumstance that a customer contracts COVID-19 and dies, life policies would pay out on death, in line with the relevant insurer's usual claims philosophy.

If I have contracted COVID 19, can I still take out Life Insurance

If you have contracted COVID-19 Life Insurance Companies will need to wait until full recovery and a period thereafter before providing cover. It is currently recommended to postpone cover for three months, but each case is reviewed individually

Does COVID 19 have any implications for claims under an Income Protection policy?

Income protection policies relate to inability to work due to sickness or an accident for a person currently in employment. If a customer is diagnosed with COVID-19 and meets the definition of disability after their normal deferred period (outlined in their policy schedule), yes, they will be able to submit a claim.