We deal with many insurers here at The Mortgage Hub and would like to share the following general guidance on their policies in light of the current COVID-19 outbreak.
There is no exclusion on many Life Cover policies that apply to COVID-19 or other infections disease, which result in the death of the plan holder. Should you pass away as a result of COVID-19 or complications from the virus, you will receive the lump sum as set out in your plan.
If you have Serious Illness Cover (SIC) it may not be covered by Coronovirus. If the virus causes a long-term debilitating illness or condition covered by your policy, you would be eligible to claim.
With regards to Income Protection, you will be able to make a claim if you’re unable to work due to COVID-19 after the expiry of the deferred period as set out in your plan. This could include situations where quarantine is imposed by a GP and you are unable to carry out your work duties in your home environment.
Every plan and policy will differ so it’s essential that you get the correct advice. Talk to us at The Mortgage Hub and we will give you clear information and facts and look into your policy so that you know what you could be currently entitled to.
We can arrange appropriate cover that suit your individual circumstances if required. Whether you are in an ‘at risk’ category i.e. you have an underlying health condition or are currently pregnant, we strongly advise that you get advice on the options available to you. Or perhaps COVID-19 has raised your awareness of protecting your income. We offer telephone appointments if you are currently in isolation and can talk you through the options.