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Income protection: a potential casualty of COVID-19

nib postpones premium increases

nib postponed premium increases, with this notice published on Thursday: 

We’ve postponed premium increases for policies that are renewing in the April to June 2020 quarter. This postponement will apply to increases attributable to both medical inflation and age increases (including policies on five year age bands). Increases will continue to apply for children moving to adult rates and any changes due to a no claims discount.

These will be postponed until July 2020, but we will continue to review.

You will be aware that increase notices will have already gone out to many members who have policy anniversaries in this quarter. We will be contacting impacted members to advise them of the change. 

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