Cigna confirms hardship policy
Cigna has revealed its Covid-19 hardship policy, which it says is designed to take financial pressure off customers.
Wednesday, April 8th 2020, 11:29AM
Gail Costa
“We’ve worked closely with our reinsurers to develop a policy that extends our existing financial hardship provisions to all of our personal and business products,” said chief executive Gail Costa.
“At Cigna customers are at the heart of every decision we make so we’ve focused on providing premium relief options in the short term. Our policy has been designed in line with the Government’s initial indications about what the country needs to do to fight Covid-19. We’re regularly reviewing how the lockdown is impacting our customers and closely monitoring the Government’s position on the current alert level to ensure we’re able to continue helping New Zealanders to protect themselves and their loved ones.”
Customers with a life, trauma, TPD or complete disability cover may be able to take a premium holiday of up to one month. After completing the one-month premium holiday period, eligible customers can then suspend their premiums and cover for up to three months.
Customers who hold a policy with income cover and/or mortgage repayment cover and/or any business income covers, may be able to suspend their premiums and cover for up to three months.
They will not be covered for the duration the premiums are suspended. Their cover will resume once they start paying premiums again.
Eligibility criteria apply.
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