Zurich UK is easing restrictions and increasing cover limits on life insurance applications as the country continues to emerge from the Covid pandemic.
The insurer introduced a number of restrictions in March 2020 which it said affected fewer than 1% of applicants with chronic health conditions.
The updates, which come into effect immediately, include:
- Increasing the maximum sum assured for customers aged 80 upwards from £25,000 to £250,000;
- Standard terms for all products will be available for those who are self-isolating purely where they have been in contact with someone with Covid if they have not tested positive or had any symptoms;
- Standard terms for life and critical illness products are available for customers who have tested positive or had symptoms of Covid as soon as they have returned to their normal activities – previously this would be postponed for one month;
- Standard terms will be available on income protection products for customers who tested positive for Covid, but did not have symptoms, one month after they have returned to normal activities – this was previously three months;
- Increasing the maximum level of underwriting loadings for all age groups which means cover can be offered to more customers.
Nicky Bray, chief underwriter for Zurich UK Life, (pictured) said: “We will continue to carefully monitor the longer-term effects of the pandemic, though we’re pleased to be in a position to relax our underwriting approach.
“This has been less restrictive than many others and has meant that throughout the pandemic, we have been able to offer support to virtually all of our customers.
“However, these changes mean more people can access valuable cover. Last year alone, our customers affected by Covid, were bolstered by payments of over £20m, with access to valuable support services.”
