Good news - we’re here with the latest information and informative columns on some common risk and insurance considerations, so you can be up to date when working on your Plan B. If there’s any product or topic you’d like more info or thoughts on, make a plan to get in touch.
Ever-changing alert levels? We’re here to answer your COVID-19 F.A.Q’s
Is there an exclusion on Life Cover for pandemics? What about health insurance?
While there is no exclusion of Life Cover and Health insurance for pandemics, 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.
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.
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.
What if I get sick with COVID-19?
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’.