Coronavirus

COVID-19: INSURER STATEMENTS

As concerns over the impact of coronavirus on insurance grow, we have approached each insurer in order to understand what their current stance is with regard to underwriting and claims. For each insurer we have pulled together links to the various statements and pages on their website in order to help you stay on top of what is happening. We will look to update this page where necessary as more insurers release their stance and as the situation develops.


Claims

Coronavirus is not excluded from any of our policies.

If a customer dies or suffers a Critical Illness or is unable to work as a result of Coronavirus their claim will be treated in the usual way, considered on its own merits in line with our existing Claims Philosophy.

We do not expect to see any claims for “self-isolation” as the minimum deferment period we offer for Income Protection is 4 weeks.  The isolation period is usually 14 days, occasionally 28 days.

Underwriting Q&A

During the application process should the applicant contract or be investigated for Coronavirus, should they tell us?

Yes, it’s a change of health and the application asks questions about tests and investigations.  To ensure cover is valid, the customer should notify us of any change in their circumstances relating to the application questions.  If in doubt, let us know.

If an applicant has or is being investigated for Coronavirus, what will you do?

We will defer offering cover until either a full recovery is made or all investigations prove negative.

Will you consider an applicant who has plans to travel to or has recently returned from a high-risk area?

We’d consider someone after they have been back in the UK for one month and are symptom-free and have no plans to return.  We wouldn’t offer cover to someone planning to visit a high-risk area.

Has the question-set or policy terms and conditions changed as a result of Coronavirus?

No.


AIG have published a statement on their website explaining their stance on claims and their approach to underwriting. 

https://www.aiglife.co.uk/advisers/products/individual-protection/coronavirus-individual-qa/


Aviva have pulled together a short question and answer page on their website giving information on their position with regard to their different types of cover, the effect on their underwriting policies and guidance.

Aviva have now also changed their underwriting questions within their application and are now not providing terms to any application that requires medical evidence.

http://www.aviva-for-advisers.co.uk/adviser/site/public/news/detail/coronavirus-your-individual-protection-questions-answered


Canada Life has published its latest information  for underwriting and claims on its website:

https://www.canadalife.co.uk/adviser/covid-19

Canada Life have also put together a page answering a high level set of frequently asked questions with regard to group protection. they are currently reviewing the impact on individual protection.

https://www.canadalife.co.uk/news/coronavirus-the-impact-on-group-insurance


Legal & General Adviser Statement

https://www.legalandgeneral.com/adviser/files/protection/doing-business-with-us/covid-19/covid-19-intermediary-statement.pdf

Legal & General Frequently Asked Questions

https://www.legalandgeneral.com/adviser/files/protection/doing-business-with-us/covid-19/covid-19-intermediary-faqs.pdf


LV= have dedicated an area of their adviser centre to coronavirus updates. This includes their approach to cases where a diagnosis is confirmed and to clients under self isolation.

https://www.lv.com/adviser/coronavirus-update


Royal London have produced a statement on their website giving more details on their approach to both claims and underwriting. 

https://adviser.royallondon.com/protection/campaigns/coronavirus-statement/


Underwriting Position

We don’t have any ‘blanket’ exclusions due to coronavirus.

At this time, we would expect customers to disclose information regarding outstanding tests/investigations, recent tests/investigations, or symptoms, under the relevant questions on the application form. Where there is a positive disclosure, we would treat accordingly, and postpone until symptoms have cleared.

We are continuing to monitor travel restrictions, and if a customer discloses that they have recently travelled to an area of high-risk, or intend to travel to a certain area, then these cases will be postponed.

We are aware and conscious of the increased demand on the medical profession and the impact that this may have on obtaining evidence to support an application.  We will guide each customer through the underwriting journey, looking to utilise customer supplied evidence as much as possible, in the same way as we have done in the past.

Claims Position

We don’t have any ‘blanket’ exclusions due to coronavirus.

Life and CI claims will be assessed as normal, subject to the usual claim assessment and meeting of the claim definitions.

For historic Income Protection business, we will continue to assess as before.  We will continue to maintain the contractual deferred period on policies.

We are aware and conscious of the increased demand on the medical profession and the impact that this may have on obtaining evidence to support a claim.  We will guide each customer through the claims journey, looking to utilise customer supplied evidence as much as possible, in the same way as we have done in the past.

We continue to monitor the situation closely and will adapt guidance based on government guidance.


The Exeter have built a page on their website dedicated to updates on the Coronavirus giving a rolling update of their stance.

https://www.the-exeter.com/news/coronavirus-covid-19/


Vitality have put together a page answering a high level set of frequently asked questions from advisers and also a page for consumers. 

https://adviser.vitality.co.uk/coronavirus-update/coronavirus-faqs/

https://www.vitality.co.uk/coronavirus-faqs/


Zurich have added a page dedicated to coronavirus to their website which provides a host of information on the virus itself and their approach across the different lines of business they participate in.

https://www.zurich.co.uk/insurance/coronavirus

Can’t find what you’re looking for?

If you still have questions or would like to speak with an adviser please get in touch.

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