September 03, 2021
September 03, 2021 | Adviser News
Zurich is giving COVID-19 vaccination protection for life insurance customers at no extra cost
We want to offer financial peace-of-mind to Australians around risk of COVID-19 vaccine side-effects. Zurich/ OnePath Life is giving COVID-19 vaccination protection at no extra cost to everyone insured under an eligible life insurance policy. An additional amount will be paid to customers who can claim under their insurance because of suffering a serious side effect from an approved COVID-19 vaccination.
We will make payments in the following three circumstances up to a combined total of $50,000:
- For those covered in the event of death, a one-off payment of up to $50,000 will be paid in the event of death due to complications arising from the vaccine.
- For those covered for total & permanent disability (TPD), a one-off payment of up to $50,000 will be paid in the event of TPD due to complications arising from the vaccine.
- For those covered under Disability Income, payments will be made during any waiting period up to a total of $50,000 in the event of total disability or partial disability
We’re doing this because we want to provide extra peace-of-mind for our customers as they weigh up the benefits and risks of having the COVID-19 vaccine, at a time when it is important for as many of us as possible to come forward for vaccination.
While medical evidence indicates the likelihood of vaccine complications is extremely low, we understand that some people are concerned about the risk of a serious adverse reaction. Our initiative aims to reassure eligible customers by knowing that they will have extra financial support if they choose to be vaccinated and then suffer the rare instance of a serious side effect that requires them to claim.