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 10-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. The automatic 10-day pay-out is a one-time concession and is a temporary measure that can be reviewed at any time. It should not be viewed as a permanent change to the contractual terms and conditions.
- 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 2 (PPO 2) - Some businesses are still prohibited from resuming activities. For clients in these industries, Myriad is offering them the option to temporarily pause their life insurance premiums and life insurance cover for 3 consecutive months until 31 August 2020; while maintaining guaranteed insurability until their premiums are automatically resumed.
- For more information on how to apply, 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.