LIFE INSURANCE
We’re here to assure you that your life is covered
- There’s no exclusions on any of our Myriad Life Insurance benefits (life, critical illness and disability cover) with regard to COVID-19. Your cover remains intact, regardless of where you’ve travelled or intend to travel. We will continue paying all valid claims.
- Income Protection Cover - In an effort to contain the spread of the virus, current practice will be that confirmed cases of COVID-19 infection will be treated as a defined event for a 14-day guaranteed payout. This is applicable to clients who selected a 7-day waiting period. If clients are medically booked off for a longer period, they will qualify for additional pay outs.
- Critical Illness Cover - Contracting COVID-19 is not a defined critical illness event but, should it result in a critical illness, it will be assessed under the normal critical illness claims criteria.
- Disability Cover - Contracting COVID-19 is not a defined disability event, but should it result in a disability, it will be assessed under the normal disability claims criteria.
- Life Cover - If a client dies as a result of COVID-19, the death claim will be paid.
- Premium pause option (PPO) - Myriad is offering clients who are in financial distress the option to temporarily pause their life insurance premiums and life insurance cover for three consecutive months - while maintaining guaranteed insurability, until their premiums are automatically resumed. Clients who wish to apply for a PPO have until 30 June 2020.
- For more information, view our information leaflet and frequently asked questions.
To remain covered and protected, we’re encouraging our clients to maintain their life insurance payments, and to seek the advice of their financial adviser before not paying or canceling their life insurance.