A message from MBS insurance regarding the impact of COVID-19.

“We have received some enquiries from our clients around the impact of Coronavirus. There are no exclusions to Life Insurance, TPD, Trauma or Income Protection that would prevent payment of a claim related to a Coronavirus for existing retail insurance policy holders.

We have seen and received announcements confirming this for policy holders of AMP, MLC, BT, AIA, Commissure, OnePath, Zurich, Clearview, TAL and Asteron. Nick Kirwan, Senior Policy Manager at the Financial Services Council stated on the FSC website that no-one should be concerned about their existing life insurance policies.

We are aware of some Industry or Corporate Super Fund policies that do exclude pandemics and/or epidemics. If you or a family member have one of these policies, please reach out to your Adviser.

As is always the case, we are driven to provide protection at a time of need and deliver better outcomes for our clients. If you experience any downtime, it may be the ideal opportunity to have your insurance portfolio reviewed.  If you wish to speak with your Adviser, it will be more efficient to email them directly or at en*******@**************om.au.

Does Life Insurance Cover COVID-19

Yes — if you already hold a retail life insurance policy, you are covered for claims related to COVID-19. This includes:

Life Insurance – A payout is made to beneficiaries if the policyholder passes away due to COVID-19.

Total and Permanent Disability (TPD) Cover – If COVID-19 leads to long-term health complications preventing you from working, you may be eligible to claim.

Trauma Insurance – Covers certain serious medical conditions triggered by illness, depending on the terms of your policy.

Income Protection Insurance – Provides financial support if you are unable to work due to illness, including complications from coronavirus.

Our team has been set up to work from home, so the business will continue as usual however limited staff members will be answering phones.