Does Covid Affect Life Insurance?

By Vicki Coleman

Whilst there's no specific insurance for Covid-19, life insurance will usually cover death caused by any condition.

How does covid affect life insurance?

As we know the coronavirus pandemic has had huge impact on ‘normal life’ and has caused us all to re-evaluate what is important to us. Naturally many of us are worried about how the pandemic could affect our families and how best protect our loved ones.

Despite restrictions being lifted and more people returning to their pre-pandemic lifestyle, some still have questions about how covid affects life insurance and we’re here to help answer some of those.

Life insurance is one of the easiest ways to protect your loved ones as it pays out an amount of money if you die while covered, that can help and support your family and loved ones. However, with the uncertainty Covid-19 has brought, it's important to know how this can affect your life insurance policy and the effect on your loved ones' should the worst happen.

Is there insurance for coronavirus?

The short answer to this is no.

There isn't a specific insurance that is designed for the coronavirus (at the time of publication). However, life insurance will usually cover death caused by any condition. It’s always worth checking what your policy does and doesn’t cover, as some providers will offer cover for different medical conditions and some may include or exclude certain illnesses or diseases.

Will my life insurance pay out for coronavirus?

Life insurance is designed to pay out a sum of money if you pass away during the term of your policy. If a claim has to be made and it’s as a result of coronavirus, then it would be treated and handled like any other life insurance claim. Any pay-out would still be subject to the usual terms and conditions of that particular provider.

Can I still buy life insurance?

The good news is, yes, you can. Despite disruptions it may have made to working environments, providers are still accepting policies and life insurance specialists are working and ready to provide you with quotes tailored to your needs.

How soon can I claim on my policy?

If you were to die from the coronavirus and your life insurance is in place when you pass away, then the insurers claims process can be started by the person making the claim. However, If you were to develop coronavirus and survive, then your life insurance will not pay out.

It is important to check with your insurer the terms and conditions when it comes to how long the policy needs to be in place for before a successful claim can be made.

Looking to take out life insurance?

QuoteSearch will ensure that protecting your family is as simple as 1,2,3. Which is why you can get and compare life insurance quotes online or we’ll put you in touch with an expert if you have any questions. Keep your loved ones' protected with a life insurance policy you can rely on. Click here to get started today.

Get a Life Insurance quote now