Australia’s largest life insurance companies have joined forces to encourage the remaining unvaccinated Australians to get the jab, and reassured the public that doing so will not impinge or void their current life insurance products.
The joint initiative, called We have you covered, sponsored by TAL, AIA Australia, Zurich, ClearView, MetLife, Resolution Life and MLC Life Insurance, seeks to provide peace of mind to consumers in three focus areas:
- Receiving an approved COVID-19 vaccination does not affect customers’ ability to claim on existing life insurance policies.
- Receiving an approved COVID-19 vaccination does not affect people’s ability to access life insurance in the future.
- Life insurance policies will cover serious side effects arising as a result of receiving an approved COVID-19 vaccine, in line with the terms of that policy.
A new website has been created to provide educational resources aimed at increasing confidence in vaccinations. The initiative will be supported by a “multi-channel media campaign”, which is co-funded by the participating insurers.
Between them, the life insurers involved in the initiative cover more than 14,000 Australians.
“The health and wellbeing of our customers and the community is always our primary concern, and we felt it was important and the right thing to do at this time, to play our part in removing any barriers to remaining parts of the population being vaccinated,” commented Damien Mu, CEO and managing director of AIA Australia and New Zealand.
“While several Australian states are tracking towards higher vaccination levels, collectively we felt it was important to provide anyone who was unsure about the impact of being vaccinated on their life insurance cover or ability to access cover in the future, confidence that – as an industry – we have them covered,” added TAL grop CEO and managing director Brett Clark.