Insurer to include COVID vaccination protection for customers at no extra cost

On Friday, Zurich Life & Investments and OnePath Life confirmed that any customer who may suffer a serious side effect from an approved COVID-19 vaccine will be eligible for a payment.

The customer or their beneficiaries will be eligible for up to an additional $50,000 one-off payment on top of their death or TPD benefit should they die or be permanently disabled because of the vaccine.

“Our intention is to provide extra peace of mind for Australians as they weigh up the benefits and risks of having the COVID-19 vaccine, at a time when it is important for as many of us as possible to come forward for vaccination,” Zurich LiveWell’s chief product and proposition officer, Dr Sally Phillips, said.

“While medical evidence indicates the likelihood of vaccine complications is extremely low, we understand that some people are concerned about the risk of a serious adverse reaction.

“This initiative is a small way we can reassure our customers and confirm their eligibility for financial support through their Zurich or OnePath life insurance policy in the rare instance they may suffer a serious side effect.” 

Zurich’s head of group insurance, Darren Wickham, added: “We felt it was important to offer this additional COVID-19 vaccination coverage within our group insurance portfolio, as well as via our retail and direct lines, given that so many Australians access life insurance through their superannuation.

“It is a benefit that tops up the amount of insurance coverage that people have within their superannuation where Zurich/OnePath is the insurance provider.  

“This initiative is another expression of our support for COVID-19 vaccination and a way we can play a part in reassuring the community.” 

The offer is available now and closes on 31 December 2021.

Neil Griffiths

Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily.

Neil is also the host of the ifa show podcast.