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The truth about Covid jabs and life insurance

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Written by: Emma Lunn
07/05/2021
A scam communication imitating insurer Allianz falsely claims that having the Covid-19 vaccination will invalidate life insurance policies.

The scam document states: “If you consent to taking a Covid-19 vaccine your consent is ‘self-inflicted’, it was your choice to have the experimental medical procedure and therefore insurance will not cover any damage or death.”

The fake document was originally spotted by Allianz in Australia, but has also been sent to clients in the UK.

Similarly, there has been a huge amount of speculation on social media, spreading the message that life insurance companies will not pay claims if a person dies within one year of receiving a Covid-19 vaccine, and that taking the vaccination will invalidate any life insurance policies.

Gwilym Pugh, life insurance expert at I’m Insured, said: “The Association for British Insurers has been clear to point out that having the Covid-19 vaccine won’t affect your cover. Although life insurance providers have started asking about an applicant’s history of coronavirus, none have made steps to exclude it as a claimable event, nor have they raised any issue around having or not having the vaccine.

“Life insurance policies very rarely include exclusions and there are none that involve non-payouts for pandemics or viruses. In fact, any death is a claimable event, which includes those for Covid-19.”

Will insurers pay out if you die of coronavirus?

According to I’m Insured, all the leading insurers in the UK have confirmed that, if you have life insurance in place and pass away due to Covid-19, they will pay the claim if all the other terms and conditions of the policy are met.

This normally means that your premiums must be up to date and that you answered the underwriting questions accurately on your life insurance application.

There are two reasons why an insurer might not pay a life insurance claim if you passed away from Covid-19; if your policy had lapsed because you did not keep up with the premiums, or if you didn’t answer the underwriting questions on the application form honestly and accurately.

Can I get life insurance if I’ve had coronavirus?

Yes, it’s possible to get life insurance if you have previously been diagnosed with a range of conditions.

The important point to note here is that you must be honest and accurate when completing the application form for the cover. If you don’t disclose symptoms or previous medical conditions, this could invalidate your policy when a claim is made.

So, you will have to disclose that you have had Covid-19 on your proposal form and outline the severity (or otherwise) of your symptoms. If you currently have coronavirus, a decision regarding your cover may be delayed until you have recovered. The decisions may vary from insurer to insurer.

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