More IP providers add coronavirus exclusions
For new policies
The Exeter, Cirencester Friendly and Shepherds Friendly all add COVID-19 exclusions for new applications
The Exeter has announced that self-isolation claims for new income protection policy applications submitted on or after 16 March will not be considered.
However claims on IP policies existing before 12pm on this date will be considered where self-isolation advice falls in line with current NHS 111 guidelines. It said any payment made will be outside of normal terms and conditions.
Cirencester Friendly has confirmed all new applications requiring an eight week deferred period or less, will have a standard exclusion applied for any condition or disorder relating to coronavirus (COVID-19) as well as other respiratory tract infections, including influenza.
The exclusion was applied from close of business Friday 13 March 2020 and will also cover any amendments to existing contracts, the insurer said. It added this exclusion will be subject to ongoing reviews.
Shirley Fell, operations director for Cirencester Friendly, commented: "The decision to apply an exclusion to our short deferred periods allows us to protect our existing members, both now and for the future. As a mutual we are here for our members, especially during such unprecedented times such as this. We will continue to monitor and review the situation as it evolves, taking into account advice from Public Health England and our chief medical officer".
On Friday, Holloway Friendly announced it had applied an exclusion for new IP policies with a one-week deferred period, a decision which the Income Protection Task Force (IPTF) called "understandable".
Shepherds Friendly is also not offering cover for COVID-19 self-isolation on new IP policies until further notice. For a policy with a deferred period of one week or less an exclusion will be placed on the policy.
The mutual said it will consider claims for self-isolation on existing policies taken out before 14 March and each claim will be treated as an individual claim and subject to the terms and conditions of the plan.
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