# Financial implications on an application if you have contracted covid19



## Sconeandjam (18 Oct 2020)

Some people are getting the virus  and think it will not affect their future plans.
 I wonder if people who contracted covid will have additional loading on their mortgage or life insurance application or could be refused due to pre existing conditions?
Will the banks add loading on those applying as In the case of smokers. If You do not disclose you had covid your insurance will be voided. They are now doing this in America. The same applies on loans, health insurance or jobs. You may contract covid now but 10 or 15 years time there could be adverse affects on you health, insurance cover and job prospects.


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## Protocol (18 Oct 2020)

Health insurance is community rated here, so no effect on that.


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## Purple (19 Oct 2020)

Sconeandjam said:


> You may contract covid now but 10 or 15 years time there could be adverse affects on you health, insurance cover and job prospects.


There's way too much talk about what could happen without any discussion of the likelihood of it happening. You could be mauled by a Lion that escaped from the Zoo but it's very unlikely that it will happen.

Given that the vast majority of people are asymptomatic it is highly unlikely that that cohort will experience complications in the future when they have none while having the disease. Of those who are symptomatic the vast majority make a full symptom free recovery in 7-10 days. 

It's a serious disease but the scaremongering around Covid19 is amazing.


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## Leo (19 Oct 2020)

Sconeandjam said:


> I wonder if people who contracted covid will have additional loading on their mortgage or life insurance application or could be refused due to pre existing conditions?



We were querying mortgage protection a few months back, all the providers approached looked for a declaration we hadn't tested positive for COVID-19 at any stage before they'd issue a quote. One said we wouldn't get cover, the others indicated it would likely affect the premium, but didn't say to what extent.


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## LDFerguson (19 Oct 2020)

This is the current position regarding life insurance (including Mortgage Protection life insurance) and Covid-19 in Ireland.  This is the current information.  I have no idea what might happen in the future so I'm not going to speculate.    


Each life company now asks questions at application stage about whether or not you have had a test, are awaiting a test, are experiencing Covid-like symptoms or been a close contact.  
If you have symptoms and/or are awaiting a test or test results, a decision will be postponed on your application until you have the results of your test.
If you test negative and have no ongoing symptoms, there is no implication on your application.  
If you test positive, your application will be postponed and reviewed again a month after you get a negative test.  After a negative test, if you have no symptoms and no other ailments or complications after a month, your application will proceed in the normal way.  
There has been no increase in life insurance premiums due to Covid-19.  
There has been no general Covid-19 exclusion applied to life insurance policies.       

Liam D. Ferguson
www.ferga.com


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