How life assurers have you covered for coronavirus

While tough times lie ahead, you should do your best to keep your risk cover. Picture: 123RF/ANDRIY POPOV

The figures show that assurers do have a buffer to pay claims should these increase as a result of the virus, says Hennie de Villiers, deputy chair of the Asisa life and risk board committee. BrightRock CEO Schalk Malan says the company is expecting more temporary disability claims but also a decrease in claims arising from accidents due to fewer vehicles on the road and fewer claims related to other illnesses as a result of additional hygiene and isolation measures.

Life cover policies should cover you as long as your death is not attributed to a pre-existing condition excluded from cover on your policy. Malan says the coronavirus is not defined in BrightRock’s policies, but if you have been diagnosed with Covid-19 and are booked off by your doctor for longer than your waiting period, you will be able to claim.

If you self-quarantine because you have been exposed to someone with the virus but don’t show any signs of illness, you won’t be able to claim, Malan says. Malan says if you apply for cover and intend travelling overseas in the near future, you may find your cover will exclude benefits if you contract the illness beyond SA’s borders and within 30 days of your return.If you fail to adhere to government recommendations with respect to staying at home, not travelling and not attending gatherings, you may well endanger your own health and life, but insurers say they won’t hold this against you.

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