It’s a tricky time for everyone and we really appreciate the wonderful dedicated people who put themselves on the line to care for others.
Do you have questions about your insurance benefits and Covid-19?
Generally insurance policies will cover you if you contract Covid-19 for;
- Death from the virus
- A traumatic illness as a result of the virus
- Total and Permanent Disability as a result of the virus
- Income replacement or Income protection – after your waiting period (30, 60 or 90 days). If you have more than 4 days in hospital a daily benefit equal to 1/30th of the monthly benefit per day can be claimed – This generally does not apply for income protection supplied under superannuation policies such as QSuper or industry super fund cover).
Things to be aware of;
- Your sick leave or carers leave at work, and in some cases, special leave may be granted by your employer for 14 days social distancing (and potentially more time) if you are required to do so.
- Your income protection policy will pay you if you acquire Covid-19 occupationally.
- Income protection is not payable for self isolation where you do not have the virus. Your normal leave entitlements will generally cover you for the time you need to take to do this – usually 14 days but up to 30 days in come cases.
What about private practice income?
If you have private practice work reduction and therefore income loss (without contracting the virus) is covered if you have a business interruption policy with a general insurer but is not claimable under an income protection policy unless you have the virus and are either hospitalised in the waiting period for 4 days or have served your waiting period and are still unable to work.
If you are unsure about whether you are covered – click here to book a 15 minute phone chat with one of our advisers.
