Various insurers have confirmed that terminally ill customers who choose to undergo assisted dying will be eligible for claim payouts. Before the referendum AIA was the only insurer to state that it would pay if the referendum passed. Recently, Cigna has said that it would pay out if assisted dying became legal and customers decided to end their life. Jane Barron, Pinnacle Life spokeswoman, noted that customers with a terminal illness are entitled to claim if it has been stated by a doctor that they have 12 months or less to live; so those that would have an assisted death are already entitled to claim.
“AIA, New Zealand’s largest life insurance company, said it could still settle claims if ACT MP David Seymour’s End of Life Choice Act became law, but others were yet to settle on their stance at that time.
With preliminary figures from the Electoral Commission on Friday showing 65 per cent of New Zealanders voting in favour of the End of Life Choice Act, terminally ill adults with fewer than six months to live will be able to request assisted dying.
One of the life insurance companies contacted by Stuff this week, Cigna, said it would pay out if assisted dying became legal and policy holders took up the option of dying with assistance. Cigna chief executive Gail Costa said the End of Life Choice Act stated that a person who died as a result of assisted dying would be taken to have died as if assisted dying had not been provided, or have died from the terminal illness from which they suffered.
“Provided a policy holder who takes up the option of dying with assistance meets all terms and conditions, they will be entitled to claim.”
And Pinnacle Life spokeswoman Jane Barron said people with a terminal illness were entitled to claim on their Pinnacle life insurance policy if their doctor said they had 12 months or less to live.
“Therefore, anyone who is in the situation where they are considering an assisted death is already in a position to be able to make a claim.”” Click here to read more
Chatswood thinks it likely that all the providers of the best life cover will include payment on this basis, as they already make advance payments for terminal illness, which is decided on terms that probably include more cases that those envisaged by the End of Life Choice Act, based on modelling shared in our recent Quarterly Life and Health Sector review.
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