In response to the recent COVID-19 outbreak, we have put together these frequently asked questions and answers to provide clarification on group risk scheme coverage and how the insurers are responding to the outbreak.
The information is a general overview of the current position, based on the latest updates from various insurers.
If you have a specific question in relation to your scheme, please speak to your usual Aston Lark consultant.
Are employees covered under our Group Life Assurance (GLA) scheme if they die from COVID-19?
Yes, all GLA polices cover death by any cause.
Is COVID-19 covered under our Group Critical Illness (GCI) scheme?
Although the COVID-19 isn’t specifically covered on Critical Illness policies, if complications as a result of the virus lead to other criteria being met, for example, kidney failure, liver failure or respiratory failure, the claim would be met.
Will employees unable to work due to COVID-19 be covered under our Group Income Protection (GIP) scheme?
Yes, GIP members with the coronavirus infection who are unable to work past the deferred period on their policy would be covered.
If an employee has been furloughed, or is temporarily working reduced hours, for business reasons due to COVID-19, how will this affect their benefit under any of our group risk schemes?
Furloughed employees, or those temporarily working reduced hours, will continue to be covered for benefits based on their salary the day prior to the reduction. This is providing their contract of employment is maintained, and premiums are paid on this basis.
For furloughed employees, benefits will be calculated from the date of last attendance.
With regards to employees temporarily working reduced hours, benefits will be calculated from the date they last worked their full contracted number of hours.
This is the current position, but all insurers will be reviewing their stance in three months or if there is a change in Government support before the end of this time period.
For the latest information, we encourage you to visit the government’s official website: https://www.gov.uk/guidance/coronavirus-covid-19-information-for-the-public
Should you have any further questions regarding your group risk schemes policy, please contact your usual Aston Lark Employee Benefits representative. Alternatively, you can speak to the Aston Lark Employee Benefits team on 020 7543 2818 or email firstname.lastname@example.org