With all the news reports on coronavirus (COVID-19), we understand that this is a worrying time for you and your family. To help keep you informed and reassured here are answers to some of the most frequently asked questions.
How is my Life cover benefit impacted by COVID-19?
With life cover, Irish Life will pay a lump sum if you or anyone covered under the plan dies. If someone dies as a result of COVID-19, or a complication associated with it, their life cover will pay out as normal. There are no changes to terms and conditions arising from COVID-19.
How is my Specified Illness Cover benefit impacted by COVID-19?
With specified illness cover, Irish Life will pay you a lump sum to help you recover if you suffer one of the specified illness conditions covered under the plan, for example malignant cancer or heart attack. COVID-19 is not a ‘specified illness’ within the list of covered conditions for Irish Life or other insurers so no Specified Illness Benefit payment will be made by Irish Life if you contract COVID-19
However, you may be eligible to claim for a condition arising from COVID-19 if this condition is one of the specified illnesses covered under your plan and according to the plans other normal terms and conditions.
There are no exclusion clauses in Specified Illness Cover plans in respect of COVID-19.
How is my Income Protection benefit impacted by Covid-19?
With income protection, Irish Life will pay you a regular income if you cannot work because of illness or injury once your chosen deferred period has lapsed and your claim accepted. When you took out this plan, you chose a deferred period of 8, 13, 26 or 52 weeks. This is the continuous amount of time you need to be medically off work before Irish Life will pay the incapacity benefit.
If you cannot work because you have COVID -19, and this condition continues for longer than the deferred period on your plan, you will be able to submit a claim and be medically assessed, as normal at the end of your deferred period.
If I am made either temporarily or permanently redundant as a result of the COVID-19 economic impacts, do I have any cover?
Please note that income protection cover is a replacement of some income due to a medical inability to work, such as due to illness or injury - it does not cover unemployment or redundancy.
Can I apply for a new life assurance plan as normal?
Yes you can continue to apply for life insurance, specified illness cover or income protection as normal. In some cases, where Irish Life ask for additional medical evidence from your GP or other Doctors/Consultants for underwriting purposes, this is likely to take longer than usual to obtain as a result of the Covid-19 emergency.
If you are in self-isolation as a result of the COVID -19 outbreak or recent travel abroad, Irish Life will defer your new business application for cover until after you have been given the all clear.
If you has tested positive for COVID -19, Irish Life will defer your new business application for cover until you have fully recovered or been given all clear. This could take a number of months.
KBC Bank Ireland plc is tied to Irish life Assurance plc (Irish Life) for Life Insurance. Life insurance products are underwritten, administered and provided by Irish Life.