With WA's covid case numbers continuing to rise, we are understandably being inundated with questions about Covid protection under exisiting insurance policies. As a result of this, we would like to share an interesting article regarding Long COVID and life insurance:
"With surging cases of the COVID-19 Omicron variant, Australian insurers are likely to see more Long COVID claims in the future.
According to research from the Swiss Re Institute collected from studies in the UK and China, around 5 to 10 per cent of those infected with COVID will carry symptoms three months after initial infection, while three quarters of those hospitalised with COVID report symptoms six months after they were first infected."
Click here to continue readingAre you protected against illness or death related to Covid vaccinations or Covid itself?
In short, if you have retail advised insurance that has been underwritten, yes you are. Australian insurers registered with the Financial Services Council (FSC) code of practice and will honour Covid related claims. A list of the insurers can be found
here as well as their media release guaranteeing Covid cover. Note that Industry Super Fund insurance ('group cover') can legally change the Terms and Conditions of policies retrospectively and may choose to limit cover as a result of Covid.
General Advice Warning
This information has been prepared and provided without taking into account your objectives, financial situation or needs. Before acting on this information, you should consider its appropriateness (having regard to your objectives, financial situation and needs) and any other information pertaining to the relevant product by referring to its PDS.
