We have had a number of enquiries from clubs around whether Club Plus Super members with income protection insurance can claim on that insurance if their employer is forced to close due to the coronavirus.
Income protection insurance is not business interruption insurance. Income protection insurance protects our members who are unable to work because of their own illness or injury.
Q: Are Club Plus Super members with income protection cover eligible to claim if they contract Coronavirus?
You will be covered for coronavirus as long as:
- you contracted the virus after your insurance started, and
- your insurance is in force, and
- you meet the at work definitions
- you satisfy the other terms and conditions of your policy (including your duty of disclosure)
Note: a waiting period will apply from the date a claim is admitted to the first payment period. Please check your account for your relevant waiting period.
Income Protection is a replacement of income if you are off work due to injury or illness. You must satisfy ‘at work’ requirements to be eligible to claim – you must be at work to claim, if you are not working you are ineligible to claim.
Unfortunately, if your employer has closed down or your employment has ceased for any other reason you are not covered for income protection insurance.
If you are in this position and need financial assistance check your eligibility for possible government support here.
As a last resort, given its impact on your long-term retirement income, you may be eligible for an early release of a limited amount of your super savings due to extreme financial hardship or compassionate grounds.
To meet the financial hardship criteria you will need to have been receiving eligible government income support payments continuously for 26 weeks and be unable to meet reasonable and immediate family living expenses.
Compassionate grounds criteria include things like medical costs for you or a dependant or making a payment on a loan to prevent you from losing your house.
You’ll find more information here.
Yes. Our insurance policies provide worldwide insurance cover 24 hours a day.
Q: What is the claims process?
For more information on the claims process, please refer to the insurance claims factsheet or give us a call on 1800 680 627 to discuss.