Private insurers are playing for time when it comes to corona infections
Insurers are reviewing more strictly the applications for new clients with Covid 19. If you want to take out private health insurance, disability insurance or life insurance, you have to wait long processes, especially with Long Covid
Anyone who wants to take out private health, disability or life insurance after going through a corona infection has to wait long admission processes. As a Capital survey (06/2022 edition, EVT of May 19) shows among five large insurance companies, the companies are very carefully examining the applications of new customers who have already contracted Corona. In some cases, surcharges must be paid and applications are suspended.
In the risk assessment for health insurance, for example, Debeka, Germany’s largest private health insurer, says that it treats Corona “like any other disease”. Those who did not have to see a doctor for the virus usually enter without any problem. However, in the case of moderate or severe courses, as well as long duration, the applications of new potential clients are “deferred until they have fully recovered”. “Then we individually check how long after admission recovery is possible,” says Debeka. The insurers R+V and Signal Iduna proceed in a similar way. Anyone who suffers from Covid for a long time must count on a risk premium. Its amount depends on the disease caused by Corona, such as damage to the lungs, according to Signal Iduna.
A progression of the disease without consequences is also decisive for inclusion in disability or life insurance. The Axa, for example, only accepts people who have fully recovered “normally under the usual conditions.” On the other hand, anyone who reports subsequent symptoms during the health check should expect the company to critically review the app. Therefore, the alliance advises to “wait for progressive healing”.
Corona currently does not play a role in the fee and price policies of insurers. None of the companies surveyed by CAPITAL currently plan to differentiate rates based on vaccination status or significantly increase premiums in the coming year. R+V boss Norbert Rollinger started the debate in the fall, but is now backing off. Whether the pandemic “will ever affect rates and premiums in any way, it’s still wide open,” says Rollinger. However, health insurance companies are already feeling high additional costs: Debeka has so far paid €81 million for members suffering from corona, Signal Iduna €25 million.