With the news that COVID-19, more commonly known as Coronavirus, is spreading across the UK we wanted to provide you with clarification around our claims and underwriting position.
What is your position on Life, Critical Illness and Income Protection policy claims in relation to COVID-19?
Death claims arising from the Coronavirus infection would be paid, subject to the usual policy terms and conditions.
Although the Coronavirus infection isn’t a covered condition on critical illness policies, if complications as a result of the virus lead to other criteria being met, (for example kidney failure, liver failure, heart failure or respiratory failure), the claim would be met subject to the terms and conditions of the specific policy.
Income Protection customers with the Coronavirus infection who are unable to work due to incapacity past the deferred period on their policy would be covered, subject to the terms and conditions of their policy.
What effect will the COVID-19 have on your underwriting policies?
This is a dynamic situation which we’re monitoring closely alongside our reinsurers but it is too early to say what, if any, impact there will be on our underwriting approach longer term. In the meantime, as always, it’s important your clients answer application questions fully, paying particular attention to the question around travel plans and symptoms that may require them to see a doctor.
Are there any changes to medical screening?
Our partners MSS and MDG will be asking examinees if they have travelled to an identified high risk area in the last 14 days; if they have been in close contact with someone with Coronavirus or if they think they may have Coronavirus. If examinees fit into one of these categories, they will delay arranging an appointment with them. In addition, they have also asked their medical examiners to let them know the same and if so, they will not be allowing them to carry out any appointments.
We’ll continue to closely monitor the situation and provide you with further updates as appropriate.
