Does my Life Insurance policy cover Coronavirus?

Yes, it does. If you already have Life Cover with Pinnacle Life and you die from Coronavirus (Covid19), we will pay your claim.

Everything we do, from the moment you first take out a policy, is about making sure we can pay your claim when the time comes. We want to reassure you that just because the world seems a little crazy right now that hasn't changed. So if you have Life Cover with us already, and you die from Coronavirus (Covid19), we will pay your claim. We're also doing everything we can to make sure we're prepared for whatever happens in the next few months.

What about other types of cover?

Funeral Cover	If you have Funeral Cover, you're covered, as long as you've had your policy for more than two years. For the first two years of Funeral Cover, you're only covered for accidental death so any illness, including Covid19, won't be covered.
Critical Illness	Covid19 is not one of the conditions covered by Critical Illness so you cannot claim on your Critical Illness policy.
Income Protection	You could claim on your Income Protection policy if you are ill for longer than your waiting period. The minimum waiting period for Income Protection (how long you wait for your first payment) is 30 days; this can be longer, for example, 60 or 90 days depending on what you chose when you took out your policy. If you are off work because you are ill for longer than your waiting period, you'll be able to make a claim, but we expect most people will have recovered by the time the waiting period is up. Your Income Protection policy doesn't have a redundancy clause and doesn't provide cover if your workplace closes or reduces your hours.

If you need help understanding your terms and conditions or have any questions, please give us a call we're here to help (0800 22 22 23).

What to do if you don't have cover:

If you don't have cover with Pinnacle Life and you apply, make sure to answer all questions truthfully, just like at any other time. Otherwise, this may result in us being unable to pay any claim you make in the future. For example, our underwriting questions currently include:

'Have you ever been diagnosed with a breathing or lung problem including asthma, emphysema, chronic obstructive airways disease, TB, cystic fibrosis or sleep apnoea? '

and

'Aside from what you've already told us, do you have any other medical condition for which you're currently seeking medical advice, receiving treatment, awaiting surgery or undergoing tests?'

If you have flu-like symptoms, this is where you should let us know on your application.

As the pandemic worsens, our policies may change. If this happens, we will make it clear on our website and on our application.

If you are worried about paying your premiums:

If your job, and your income, have been affected by the virus, please give us a call and we can talk through your options and work out the best solution for you.

If you need to make a claim:

We are also, like most other NZ businesses, testing our business continuity planning (BCP) processes to make sure that we can continue to pay claims, manage policies and payments, and answer any customer queries. This includes robustly testing our remote working and phone diversion setup.

Our team are also taking precautions to make sure we stay well so that we can be here if you need us. When we struggled to find hand sanitiser, our wonderful Amy Cavanaugh (GM Operations) found some that came in Unicorn and Mermaid bottles which gave everyone some light relief. We have also instigated more regular desk and office cleaning. Our desks are already well-spaced, but we are making the most of empty desks and working from home options to make sure we are all out of 'spit' distance to quote the Prime Minister.

Remember most people recover.

The most important thing to remember is that most people recover from Covid19.

We are being inundated with updates and news. Picking out what's fact from fiction, what's expertise and what's uninformed opinion is tricky.

At the moment we seem to be holding the storm at bay, but that could change at any time and change quickly. For now, just be sensible and be kind to yourself and your loved ones. The instructions on how to look after yourself are consistent. If the news gets overwhelming, take a walk outside and get some fresh air away from any crowds, phone a friend and have a laugh together, or put some music on and sing and dance.

Update 24 March 2020:

We will continue to be open and available to you during the COVID 19 Alert Level 4 lockdown period from 24 March. Like many of you, we will be working from our homes, but we will do our best to provide our usual level of service, within regular working hours. Please do not hesitate to get in touch if you have any questions or concerns. Most importantly, please keep yourselves safe.