Income Protection during the Pandemic
We have been receiving a host of questions from our valued clients regarding the benefits that they have and how they will cover them in light of the global pandemic. We will be sharing these question and the associated answers to ensure that we are all well informed at this time.
Question: Will my income protection cover me during this period? Answer:
The Income Protection benefits are designed to provide in the event that the insured is unable to perform the duties of their occupation due to illness, injury and accident. The intention of these benefits are to ensure that clients do not suffer a loss of income when being unable to work for the reasons mentioned. Should any of our insured clients get tested positive for the COVID-19 virus then after the waiting period they will qualify for a claim. The requirements will remain based on the specific providers.
Question: Will my income protection provide cover because of the lockdown? Answer: Unfortunately, not, the claim definitions do not cover being unable to work due to a mandatory nationwide shutdown. Certain companies have embedded within their product or available retrenchment cover – in the event our clients are retrenched due to a mandatory retrenchment then there will be cover supplied
Jean Du Toit
KZN regional distribution head