Insurance Ireland warns KBC and Ulster Bank Customers to protect their insurance policies
Insurance Ireland, the representative organisation for the Irish insurance sector in Ireland has warned of possible impacts on holders of insurance poilicies as the two banks begin closing or freezing accounts in the coming weeks.
If your life Insurance, serious illness cover, health insurance policy or any other kind of insurance is paid by direct debit from an account at one of the banks that is closing, you should get in touch directly with your insurance provider to arrange a new direct debit that uses a different bank account.
In it's article, Insurance Ireland points out that the impact could also be very serious for health insurance poilicy holders as a lapse in policy could result in loss of cover for pre-existing conditions.
It is recommended that you should contact your insurance provider directly, there should be information provided on the website of your provider. Your insurer will be able to provide you with a new direct debit mandate form to allow you to set up a new payment instruction.
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