Life insurance to remain accessible for doctors providing care during COVID-19
The AMA welcomes the decision by the Australian Competition and Consumer Commission (ACCC) to extend the authorisation to ensure that healthcare workers are not denied life insurance, will not be charged higher premiums, and will not have benefits excluded, purely due to exposure or potential exposure to COVID-19. The authorisation has been extended to 31 July 2021.
The ACCC originally moved on April 9 to grant interim authorisation to the Financial Services Council (FSC) and its member life insurance companies to ensure that healthcare workers were not denied life insurance policies during COVID-19.
The AMA made a submission to the ACCC supporting the extension of this authorisation in May. The AMA was concerned by reports from members earlier this year that life insurance companies were planning to deny cover to doctors and other health professionals because of COVID-19.