An Australian life insurer to include COVID-19 vaccination protection for life insurance
Zurich Life & Investments and OnePath Life are including bespoke COVID-19 vaccination protection into eligible life insurance policies, at no extra cost. Should any Zurich or OnePath Life insured customer suffer a serious side effect from an approved COVID-19 vaccination they will be eligible for a payment. This is on top of the payment they may be eligible to receive under the terms of their policy.
They, or their beneficiaries, will be eligible for up to an additional $50,000 one-off payment on top of their death or total & permanent disability (TPD) benefit should they die or be permanently disabled because of the vaccine. Income protection policyholders may also be eligible for payment during their standard waiting period, should they be hospitalised.
Customers need to be the insured person under an eligible Australian Zurich or OnePath life insurance policy, for death, income protection or TPD. The offer is available from 1 September – 31 December 2021. Eligible customers must have an in-force policy during this period and at the time they are vaccinated.
Death or disability must occur within 90 days of receiving the COVID-19 vaccination. Claims must be lodged by 31 December 2022. For income protection, the person must be hospitalised for three days or more. The payment would be capped at $50,000 across TPD, IP and death across Zurich or OnePath Life-held policies. More details can be found on the Zurich website.
Contact Experien Insurance Services to find out more.
Life insurance and Financial Advice services are provided by Experien Insurance Services Pty Ltd (EIS) ABN 99 128 678 937 and Experien Financial Services Pty Ltd (EFS) ABN 32 631 346 757. EIS and EFS are a Corporate Authorised Representative (No. 320626 and No. 1274354) of Affinia Financial Advisers Limited ABN 13 085 335 397 AFSL No. 237857.This is general information and you should not act on it, or rely on it, without obtaining personal advice. Always read the product disclosure statement (PDS) issued by an insurer before considering to take out insurance. See our website for our Financial Services Guide.
