Frequently asked questions about life insurance and pandemics like the coronavirus

The coronavirus (COVID-19), has many of us worried, so naturally, there are concerns and questions about how best to protect your loved ones in times like this. Life insurance can be one of the ways to do this as it pays your family an amount of money if you die while covered. Get answers to frequently asked questions you may have on how life insurance can protect your family during a pandemic like the coronavirus.

Frequently asked questions

There is no one best life insurance for coronavirus and other diseases like it. When buying life insurance, the type, length and cost of cover that you choose will depend entirely on your personal circumstances. This will include things like whether you have a mortgage, family, children in education and your current and previous health.  It might also depend on how much you can afford - some cover is always better than none.

There is no life insurance specifically for the coronavirus. Life insurance generally covers death caused by any condition. However, different life insurance providers will offer cover for different medical conditions and some may include or exclude certain illnesses or diseases. So it’s worth checking when you get a quote as to exactly what is and isn’t covered.

If you are planning on taking out critical illness insurance or serious illness cover, you may find that the coronavirus is not listed on the specified list of illnesses that most life insurance providers will cover.

Life insurance, critical illness, or serious illness policies usually cover terminal illness for free. This ensures the policy pays out if life expectancy is 12 months or less. It’s probably best to check with your insurance provider directly as to what conditions their critical illness insurance covers or the serious illness option on different life insurance policies actually covers

Life insurance is designed to pay out a sum of money if you pass away during the term of your policy. There is no specific life insurance for a pandemic or epidemic, so if you have a policy you will be covered, unless it is specifically excluded.

If you die from a disease such as the coronavirus during the term of your life insurance, then your family may receive the payout, as long as the medical questions when making the original application were answered correctly.  Medical evidence might need to be obtained during the assessment of claims. 

If you pass away from the coronavirus and you have life insurance in place when you passed away, your family or whoever is making the claim can start the claims process once the death certificate is issued. If you develop coronavirus and survive, then your life insurance will not pay out.