Members of the public are being reminded that the Covid vaccine will not invalidate life insurance, amid a spike in criminals targeting people will false claims under the branding of legitimate insurance companies.
The warning comes after a rise in scam messages from fraudsters purporting to be from insurer Allianz.
The messages falsely claim that having the coronavirus vaccination will invalidate your life insurance policy.
The scam messages state: "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, and has also been sent to clients in the UK.
In recent weeks there has also been increased speculation 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.
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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,” Pugh added.
Will my life insurance pay out for Covid-19?
Yes.
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 means your premium must be up to date and all questions on the policy must have been accurately answered.
However, if your policy had lapsed because you did not keep up with your premiums, or you made a false statement such as lied about smoking, your policy could be voided out.
Can I get life insurance if I’ve had Covid-19?
Yes. It is 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.
So, you will have to disclose that you have had the virus on your proposal form and outline the severity of your symptoms. Common questions may include whether you tested positive and whether you have been in close contact with someone that had the virus.
Does having the COVID-19 vaccine affect my life insurance?
No. The Association for British Insurers has been clear to point out that having the COVID-19 vaccine won’t affect your cover.
