With the country having moved to the Traffic Light settings of the Covid-19 Protection Framework, and with Level 4 Lockdowns (hopefully) behind us, Partners Life has reverted to its original criteria for premium holiday and policy suspension claims.
The company relaxed its policy on premium holidays in August 2021 by extending its financial assistance to help clients who may have been financially impacted as a result of
government restrictions in the face of Covid-19.
With many clients’ work and income affected during lockdowns, the move helped the firm’s policy holders keep their cover. However, with daily life moving back toward normal, the insurer has put its original policy conditions back in place.
Premium holidays are still available if the life assured undergoes any of the following:
- Redundancy; or
- Bankruptcy; or
- Leaving paid employment to become a full-time caregiver to a spouse, de facto partner or Civil Union partner who for the first time requires such care as a result of an illness
or injury; or - Leaving paid employment to become a full-time caregiver to a Dependent Child who for the first time requires such care as a result of an illness or injury; or
- Death of a spouse, partner or child; or
- Natural Disaster where the event affects a life assured’s ability to undertake their usual work and where interruption is likely to last more than thirty days; or
- Any other event Partners Life agrees to, at its sole discretion
For Policy Suspension claims only:
- Employer approved leave without pay; or
- Employer approved parental leave; or
- Overseas travel; or
- Tertiary Education