The coronavirus (COVID-19) has many of us worried about the health of our savings and investments but also with terrifying daily death tolls across the globe we are now all more aware of our own mortality.

More than two thirds of the UK adult population either hasn’t purchased any life insurance (57 per cent) or doesn’t know whether they have or not (11 per cent), according to Life Search’s 2017 Health, Wealth and Happiness report. But the coronavirus pandemic has reminded us that death impacts all of us, and there are no guarantees.

An adult with children, a mortgage or dependant loved one, should have a robust life policy to protect those left behind. In addition those with inheritance tax concerns may want to consider a whole of life policy to protect their estate. These policies pay out on second death and the proceeds can be used to cover the inheritance tax on the estate. 

A common objection to life cover is the belief that either the spouse could work, sell the home or manage on savings. Another objection for inheritance tax planning, is it potentially is only an issue when only one of a couple is alive.

Coronavirus has proved its lack of discrimination as to who gets it and who will sadly die from it. But we do know entire households can catch it, and that death can affect all at the same time or in quick succession. This could leave children without parents with no life cover payment to help ease the personal and financial loss and it can also easily result in an inheritance tax bill that could have been avoided.

So is coronavirus covered by life cover?

There is no life insurance specifically for the coronavirus (Covid-19). Life insurance generally covers death caused by any condition. However, different life insurance providers will offer cover for different medical conditions and some may include or exclude certain illnesses or diseases. So it’s worth checking when you get a quote as to exactly what is and isn’t covered.

Is it too late to get life insurance now?

You can still take out life cover during the coronavirus pandemic, and you should be covered against coronavirus. But be aware of the possibility that insurers will tighten underwriting criteria in the future, or even implement coronavirus exclusions, as they have done with other types of insurance like travel and income protection.

Please speak with one of our financial advisers to discuss your individual requirements.


Although every effort has been made to ensure that the information provided in this article is accurate and correct, the information provided does not constitute any form of financial advice. We recommend that you take financial advice before making any financial decisions.