Flood Relief - Premium Waivers
As the cost impacts of the the 2022 flood disasters across Victoria and New South Wales begin to become more apparent, financial relief is beginning to be offered by personal insurance providers.
The list below provides further details of these relief measures and will be updated as new information comes to hand.
Metlife (updated 26 Oct 2022) - Victoria Floods
Premium Relief: MetLife has announced a 3-month premium waiver for eligible MetLife Protect and MetLife Protect Super customers who have been affected by the recent Victorian floods.
This is available on request for the period of 14 October 2022 - 14 January 2023 for customers living within the designated flood areas.
* For VIC flood affected areas, please refer to the Australia Post, Disaster Assist and Services Australia website.
TAL & Asteron (updated 26 October 2022) - Victorian and NSW Floods
Premium Relief: To ensure TAL and Asteron Life customers and their families, who are directly impacted by the floods, can maintain the life insurance cover they need, and to provide some financial relief during this difficult time, TAL is offering a premium waiver for up to two months.
This is available to all existing TAL customers holding policies directly with TAL or through a financial adviser and who qualify for the Australian Government Disaster Recovery Payment.(External link)
TAL also recognises the efforts and personal sacrifice of those who are assisting with the emergency and recovery efforts in a voluntary capacity. Therefore, they also offer a premium waiver, for up to two months, to those who are part of the volunteer SES and other emergency services organisations and are taking unpaid leave from their regular employment and who hold policies directly with TAL or through a financial adviser.
Claims processing: TAL’s Claims team is ready to provide additional support and flexibility for customers making claims who have been impacted by the floods.
Where personal records or paperwork has been possibly destroyed or delayed, TAL will work flexibly with customers to determine alternatives for providing claims documentation, and to streamline claims handling to ensure they are provided with the additional support they need during what is already a difficult time.
AIA (updated 26 October 2022) - Victorian and NSW Floods
AIA Australia is offering our policyholders Flood Assistance Packages to provide support to those directly affected.
Premium Relief: AIA believe it is important that customers can maintain life insurance cover even when facing times of financial difficulty. Eligible life insurance policyholders in affected locations who qualify for an Australian Government Disaster Relief Payment will be able to receive a premium waiver of up to three months.
This premium waiver offer does not apply to automatic policies held in a superannuation fund or corporate schemes.
Claims Support: AIA’s priority will continue to be supporting their customers through every step of the claims process.
If you are currently going through the claims process, or you need to make a claim on one of your policies with AIA , and you have been impacted by the floods, let the AIA claims team know, as they can assist to make the claims process as simple as possible.
Following a traumatic experience like a natural disaster, many people can struggle with mental health issues. AIA also have disaster recovery programs ready to support their customers on claim who are impacted by the floods, to assist with their recovery.
For further details, please do not hesitate to contact Agri Plus Financial Group at 03 5443 7220