Tony they are only making that exclusion on new policy's . bit like ringing up to get house insurance the day a cyclone hits , i dont think so . Just more fake news .
Definitely sensationalist news. I just had an email from TAL. Part of it is as follows -
"TAL recently made a change to its underwriting guidelines for new customers joining TAL after 18 March 2020. These guidelines relate to customers who are purchasing a new policy. In these circumstances, we individually assess new customers who have recently travelled abroad, or are showing symptoms of COVID-19, or are in high risk groups, and may offer these customers modified terms. This applies only to new customers joining TAL after 18 March 2020. This is similar to changes to underwriting practices made by other insurers in respect of COVID-19.
If your client took out a policy prior to 18 March 2020, then as an existing customer of TAL you can be assured that your client is fully covered for COVID-19 in line with their policy terms and conditions."
A life insurance policy is a legal contract protected by law. Once in existence, an insurer can only modify the terms to improve benefits. They cannot take previously agreed benefits away. Because of this, they can say what they will or won't cover before they agree to cover you.
