Covid Vaccination Status Monitoring Overview for New Zealand Insurance Companies

A New Zealand life insurer is keeping an eye on trends in customer vaccination status, but says it is too early to make insurance contracts and underwriting decisions.

Thursday, November 25, 2021 11:59 AM

Matthew Martin

Grant Willis of Asteron Life.

so recently Good return paper Naomi Ballantyne, Managing Director of Partners Life, and Jon-Paul Hale, Insurance Advisor and Owner of Willowgrove Consulting, tells how life and health insurance companies choose not to be vaccinated against Covid-19. He said he made a big decision on whether to cover it.

“Life insurers have several options to ensure that all customers do not have to pay premiums to deal with this increased covid-related claim risk,” Ballantine said. ..

She said these options are the difference in premium between vaccinated and unvaccinated customers, completely excluding unvaccinated or declining covers. Said.

The head of Asteron Life Grant Willis states that Asteron and its reinsurance companies are closely monitoring the development of medical care around Covid-19 and its long-term implications.

“At this stage, we need more data to inform us of future underwriting decisions.

“Kiwis tend to be uninsured for life insurance and income protection types. New Zealanders should be aware that even if they suffer from Covid, they still have options for personal insurance. I think it’s important. 19 or other major health issues.

“Covid-19 has brought a lot of uncertainty and difficulty to many New Zealanders. We have endeavored to maintain confidence in the insurance that our customers have purchased from Asteron Life.”

According to Willis, Asteron does not apply a full exclusion to Covid-19 and offers a variety of support options to help customers maintain insurance through short-term financial vulnerabilities.

Sharron Botica, CEO of AIANZ, states that AIA does not require new customers to disclose their Covid-19 vaccination status as part of the underwriting process.

“We continue to monitor the development situation, but at this time there is no new information that could change our current underwriting approach,” she says.

“… It’s too early to fully assess the impact of the government’s elimination of recent strategic changes on life at Covid-19,” said Simon Tohill, general manager of strategy and marketing at Cigna New Zealand. increase.

“Once we consider this further, we will factor that information into how we approach the underwriting of the new policy.”

tag: AIA Asteron Signa COVID-19 Grant Willis John Paul Hale Life insurance Naomi Ballantine Sharon Botica Simon Tohil

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Covid Vaccination Status Monitoring Overview for New Zealand Insurance Companies

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