Partners Life reverts to original criteria for Premium Holidays and Policy Suspensions

The company extended its financial assistance last year, offering to help clients who were financially impacted as a result of Covid-19 restrictions and lockdowns from August 17.

Now the life insurer says the time is right to return to standard products, now the country has moved into the Covid-19 Protection Framework and potential Level 4 lockdowns appear to be behind New Zealand.

Advisers have been notified that clients will now qualify for a Premium Holiday claim if they undergo any of the following: redundancy; bankruptcy; or leaving paid employment to become a full-time caregiver to a spouse, de facto partner or civil union partner who for the first time requires such care as a result of an illness or injury.

Premium holidays are also accepted for customers leaving paid employment to become a full-time caregiver to a dependent child who for the first time requires such care as a result of an illness or injury; or death of a spouse, partner or child; or natural disaster where the event affects a life assured’s ability to undertake their usual work and where interruption is likely to last more than thirty days; or any other event Partners Life agrees to, at its sole discretion.