Coronavirus Health Insurance All You Need To Know

will your life insurance policy cover your death due to COVID19 ? Also can you be able to get a Life insurance after contracting the Coronavirus ?


2 min read
Coronavirus Health Insurance All You Need To Know

The World Health Organization has declared Coronavirus or the COVID19 as the global pandemic as it has spread all over the world .

So here's the question arises will your life insurance policy cover your death due to COVID19 ? Also can you be able to get a Life insurance after contracting the Coronavirus ?

If the policy holder passes away due to Coronavirus had a life insurance the nominee of that policy will get the sum assured as the death benefit .

Chief business officer of policy Bazar said if the deceased person had a life insurance policy then the nominee must know that the death caused by any health related issue are generally covered under a life insurance including term insurance . Which means that when the insured person dies of any disease the death benefit is paid to the nominee after a valid life insurance claim is filed .

Death benefit is the agreed amount of money payable by the insurer upon the death of the insured person to the nominee . At the time of buying any policy the policy holder lists out the names of the nominees who will receive the death benefits after the insured person dies .

He said existing life and policy holders are covered . On the other side some other life insurance policies have exclusions for a specific cause of death , Coronavirus will be covered only if you have already an life insurance policy .

In the rare case , if someone die from a pandemic , his/her nominee will receive the death benefit .

What if you buy a policy now ?

In the mid of COVID19 pandemic if you want to buy a life insurance you should keep in mind that the insurers determine the premiums of an insurance on the basis of your medical and health history .

So it is obvious to assume that COVID19 pandemic would have some impact on your health insurance .

He said if your life insurance policy is in the process then the insurer may reject the insurance if you have already contracted COVID19.

As long as the policy holder has disclosed all the information correctly before buying the life insurance , where in the person was not infected with COVID19 . The death benefit claim would be payable even if it arises due to death from COVID19 .

However every policy holder must scrutinise the exclusions of their life insurance carefully to know the possible situation where they will not be covered .

GO TOP