When you apply for life or disability insurance, a life insurer will undertake an assessment of your application to decide whether to issue you cover, and if so, on what terms.
This assessment can take a while, if it needs more information such as on past health events, your financial circumstances and other risks like if you work in a hazardous occupation.
But what happens, if you became injured via a freak accident during this time ?
Because of this risk, some insurers will offer “Interim Cover”. Each insurer will offer terms based on their policy wording in their Product Disclosure Statement (PDS). Some will give cover for claims from accidents only and up to certain limits. And other limitations or exclusions may apply.
To find out more how and when this “Interim Cover” may apply, contact Experien Insurance Services.
This is general information that does not take into account your personal needs, obligations and circumstances. Always read the PDS issued by the insurer before applying for insurance.
If you would like to find out more, feel free to contact us for a complimentary review. .
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. See our website for our Financial Services Guide. Always read the Product Disclosure Statement issued by an Insurer before considering insurance
