Can I still increase my Life insurance or apply for new Life cover at this time?
Yes, you can still increase your Life insurance cover and apply for Life cover during this time. At this stage, there continues to be no exclusion for a pandemic. However, there may be some exclusions applied if you plan to travel.
Is there an exclusion on Life cover or pandemics?
No, there is no exclusion on Life cover for pandemics.
Is there an exclusion on Health insurance for pandemics?
No, there is no exclusion of Health insurance for pandemics, however the Ministry of Health (MOH) will cover the cost of your hospitalisation if you’re admitted to a public hospital with COVID-19. For expenses that aren’t covered by the MOH, please contact your advisor or check your policy wording.
Please be aware that in New Zealand most health insurance policies have an exclusion for acute medical conditions and observations. An acute medical condition means a sign, symptom or condition that needs hospital admission for treatment or monitoring, immediately or within 48 hours.
Will I get paid Income Protection if I have to self-isolate?
No, you will not be eligible for an Income Protection pay out because of self-isolation, unless you are off work due to illness or injury.
Will I get paid Income Protection if I get sick with COVID-19?
Yes, you can be paid income protection if you’re unable to work due to any illness or injury. Your cover will start after your ‘wait period’.