MLC Life Insurance has become one of the first life insurers in Australia to process critical illness claims as a result of Covid-19, according to a statement from the insurer.
It states that since the beginning of the pandemic it has assessed and paid two critical illness claims for customers who were hospitalised after contracting the virus. MLC says both customers, who have recovered, were in intensive care for 30 days and needed the assistance of ventilation in order to survive the disease.
Jane Dorter, Acting Chief Claims Officer, MLC Life Insurance, says that Covid-19 has re-emphasised the important role life insurers play in protecting Australians and their families in times of crisis.
She says that both customers had critical illness cover in place to protect them should the most unexpected illness occur.
“They were able to use their benefit that is payable when a person is in intensive care and requires continuous mechanical ventilation for seven days.”
The insurer adds that it is continuing to support customers impacted by Covid-19, outside of paying claims caused by the disease and to date has provided premium relief to more than 1,300 customers who are experiencing financial hardship as a result of the pandemic.
It has also supported two industry-wide commitments developed by the FSC to support customers. These include a TPD Claims initiative (see Life Companies Covid TPD Claims Initiative) and a commitment to ensure that frontline healthcare workers are not prevented from obtaining life insurance cover purely through exposure, or potential exposure, to coronavirus (see Underwriting Announcement – Frontline Healthcare Workers).