If you have existing Life Insurance then yes, you will have cover for Coronavirus or COVID-19 – if you pass away from COVID-19 then your policy will pay (provided the conditions set in your policy are met, of course, and this applies to ALL insurance types).

At the time of this writing, most insurance providers are still offering Life cover with no exclusions for COVID-19. However, they are likely to ask questions about your recent travel and any planned travel – if possible.

Funeral cover will generally cover COVID-19 – however most Funeral plans only cover illnesses after being in place for two years so this is something to be aware of.

Trauma cover or critical illness does not cover a COVID-19 claim.

Income Protection would cover a claim if you got sick from the COVID-19 and would kick in when you reached your waiting period. If you lose your job and have redundancy cover in place, then this would pay out. But not many people take up redundancy cover in New Zealand.

There is no cover if you cannot work due to the current lockdown for COVID-19 in New Zealand.

For existing income protection policyholders, there is mental health cover in most policies so this could be possible to claim under if you lost your job and became depressed as a result. Currently getting income protection cover is getting harder as insurers are either changing the wording for new policies or restricting it to certain occupations.

Please get in contact if you have any questions or like to understand your options

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