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 .
Nevd said
05:34 PM Mar 27, 2020
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.
Tony Bev said
06:26 PM Mar 27, 2020
Hi Nevd
Glad to hear that everything is right, in the life insurance world
Going by the snip below This is similar to changes to underwriting practices made by other insurers in respect of COVID-19.
I am glad that I am too old for life insurance policy, as my age group is suspect to not surviving, if I catch COVID-19
Tony Bev said
11:21 AM Apr 8, 2020
It looks like TAL, the insurance mob who decided that they would not pay out for future Covid-19 deaths, have now changed their minds
As I, more or less, used my personal opinion, to let others know, that I thought, what they had done, was the wrong thing to do
I now say, credit where credit is due, and that they have now done, (in my opinion), the right thing
In all honesty, I do not believe that anyone, would have deliberately gone out of their way, to catch Covid-19, so that they could die
Is this another thin edge of the wedge
Giant life insurance company TAL, to exclude those who may die from Covic-19
Such as front line medical workers
Link below
https://www.abc.net.au/news/2020-03-27/insurer-tal-moves-to-exclude-people-who-die-from-covid-19/12093542
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.
Hi Nevd
Glad to hear that everything is right, in the life insurance world
Going by the snip below
I am glad that I am too old for life insurance policy, as my age group is suspect to not surviving, if I catch COVID-19
It looks like TAL, the insurance mob who decided that they would not pay out for future Covid-19 deaths, have now changed their minds
As I, more or less, used my personal opinion, to let others know, that I thought, what they had done, was the wrong thing to do
I now say, credit where credit is due, and that they have now done, (in my opinion), the right thing
In all honesty, I do not believe that anyone, would have deliberately gone out of their way, to catch Covid-19, so that they could die
Link below
https://www.abc.net.au/news/2020-04-08/tal-backflips-coronavirus-exclusion-clauses-for-life-insurance/12130484