insurance and covid19

​You maybe wondering whether your current Life, Trauma , Business Revenue or Income Protection,  covers  Covid 19.

For all of the above policies we have put in place for you, the short answer is : Yes.
Your insurances will pay the normal amount under the standard terms and conditions of the policy.

Note :
For, say, Income protection, this does not cover you if you can’t work because of self-isolation.
It would however cover you if you contracted Covid19 and could not work because of it (providing the standard wait period under your income protection was met).
Life Cover :
Full cover, death from any cause, world wide.
Trauma Cover :
This covers 40 illnesses. 85% of all claims are for heart attack stroke and cancer. Covid19 is not one of the covered conditions.
General :
If a pandemic (or any other out of the ordinary event) is widespread, and claims are substantially out of the ordinary, a local (NZ) insurance company may claim against its reinsurance, with overseas reinsurers. The local insurance company also has the option of increasing the overall premium to all policy holders, to help cover claims. (This is only when claims are substantially out of the ordinary).
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I trust that’s of help in these difficult times. If you have a query, please do not hesitate to be in touch (email, txt or phone call).
If you have Life, Trauma or Income Protection type policies put in place elsewhere and would like my opinion, please let me know.

This blog is general information only. For specific advice in relation to your circumstances, a Licensed Financial Adviser should be consulted