Gary Ross Hunter was an editor at Finder, specialising in insurance. He’s been writing about life, travel, home, car, pet and health insurance for over 6 years and regularly appears as an insurance expert in publications including The Sydney Morning Herald, The Guardian and news.com.au. Gary holds a Kaplan Tier 2 General Advice General Insurance certification which meets the requirements of ASIC Regulatory Guide 146 (RG146). See full bio
Gary Ross's expertise
Gary Ross has written 725 Finder guides across topics including:
- Health, home, life, car, pet and travel insurance
- Managing the cost of living
Will i be able to claim income protection if i get corona virus or my business closes
Hi Vanessa,
Thanks for your comment and I hope you are well.
Yes, you will be able to claim income protection for coronavirus as there are no exclusions for epidemics or pandemics in income protection policies. According to or review, your insurer promises to pay a percentage of your typical wage if you ever become too sick or injured to work. Policies will usually payout up to 75% of your regular gross income but note that this is dependent on your provider. This goes for employed or self-employed individuals. For waiting periods, Zurich has 30 days waiting period. During this time, you won’t receive any money during the waiting period, and it won’t be backdated.
In the event of loss of job due to business closure, you can contact Zurich to ask how they handle this situation. Know that your insurance company’s response this week might not be the same way it responds next month. We have a guide on how to prepare for the possibility of unemployment.
At this point in time, it’s important to review your insurance policy’s Product Disclosure Statement and terms and conditions and contact your provider for any questions you have.
Hope this helps and feel free to reach out to us again for further assistance.
Best,
Nikki