September 03, 2021
September 03, 2021 | Adviser News
COVID-19 Information to support your clients
While the current pandemic is something that has taken many of us by surprise, rest assured we have responded in several key areas of our insurance products in response. Our dedicated claims teams remain ready and well equipped to respond effectively and efficiently with any other claims relating to COVID-19.
Information to support your clients
We know you have been getting many questions around COVID-19 from your clients so we have answered a number of common enquiries and concerns to support you.
What support is there provided for COVID-19?
It’s so important to look after yourselves during this time. The shadow issue of the pandemic is its potential to impact our own well-being and those we care about. We have our Adviser COVID-19 resource centre and our mental health and wellness support centre, My Wellbeing Hub available. It gives you access to engaging articles, fact sheets and guides that may help you and your clients improve their mental and physical wellbeing, information on community support groups and access to national support services.
Will a client’s life insurance policy cover them for illness or death from COVID-19 or if they suffer adverse effects from the COVID-19 vaccination?
Yes, our policy holders are covered for illness and death from COVID-19, including if they suffer adverse effects from the COVID-19 vaccination, as long as they
- contracted the virus or suffered the adverse effects from the vaccination after their policy commenced, and
- their policy is in force, and
- they satisfy the terms and conditions of their policy (waiting periods, disability definitions)
In addition, we are giving COVID-19 vaccination protection at no extra cost to everyone insured under an eligible life insurance policy. An additional amount on top of their claim payment will be paid to customers who can claim a death, TPD or Disability Income benefit under their insurance as a direct result of suffering a serious side effect from an approved COVID-19 vaccination administered between 1 September and 31 December 2021. The additional payment is available to customers holding policies insuring against accidental death or disability who would not usually be eligible to claim for sickness based causes.
Detailed information on this vaccination protection can be found here.
Has your underwriting changed due to COVID-19?
To ensure we are managing our risk appropriately in an environment with evolving social, medical and economic impacts - we do need to ask additional questions to fully understand an individual’s unique situation and determine if cover can be offered and under what terms.
What additional underwriting questions are being asked because of COVID-19?
Applicants will be asked some additional COVID-19 specific questions during their application. These are not static questions and may be subject to further changes as the risks and impacts of COVID-19 evolve. Currently, the additional questions asked during the application process are:
- Have you had or are you awaiting a test for coronavirus (COVID-19)?
- Are you currently in quarantine or enforced self-isolation for coronavirus (COVID 19) due to possible infection?
- What impact, if any, has the coronavirus (COVID-19) had on your employment or on the way your business operates?
Please note that further changes to these questions may be required as the COVID-19 situation continues to evolve.
Does cover for COVID-19 differ depending on professions? i.e a Health workers or front-line work?
We have not changed our approach to professions as a result of COVID-19.
Are there instances where a client may be declined cover relating to COVID-19?
If a client has tested positive for COVID-19, we may defer their application for 12 months.
If my client loses their job due to COVID-19 government restrictions. Are they covered under their policy?
Customers may be eligible to claim for involuntary unemployment if they satisfy the terms and conditions of their specific policy definitions.
If my client has to self isolate for 14 days due to being a close contact of COVID-19 and is unable to work, will they be covered under their policy?
No, you need to have ceased work as a result of injury or illness and meet the definitions, terms, and conditions of the policy.
If I have had a COVID-19 vaccine, can I be covered for international travel?
Currently, regardless of whether an applicant has had a COVID-19 vaccine, any planned overseas travel within twelve-months of taking out a policy will incur a coronavirus disease (Covid-19) exclusion. This is because current vaccines do not completely eliminate the chance of contracting COVID-19.