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Premium relief for farmers offered by two more insurers, AIA and Zurich

Zurich and AIA have announced premium waivers for drought affected farmers. They join TAL and OnePath who introduced similar measures a month ago. All of these insurers have recognized the significant impact that the current drought is having on the livelihood and well-being of farmers and are seeking to provide some financial relief.

Zurich are offering a two month life insurance premium waiver to farmers who are experiencing hardship. To qualify for the offer customers must have disclosed their occupation as a farmer when they first applied for insurance. The premium waiver can be arranged over the phone by contacting the Zurich Customer Care team.

Tim Howell from Zurich explained the reasoning behind the waiver, “The resilience of the Australian farming community has been tested before, although with 99% of NSW covered by one of the three drought categories, and Queensland’s drought conditions some of the worst seen in 71 years, farmers are doing all they can to protect their livelihoods. Whilst waiving their life insurance premiums may not bring the rain they sorely need, we hope it will help ease some of the financial burden they are currently facing.”

AIA has announced that it will be offering a six month waiver of premiums. To be eligible farmers must have qualified for the Federal Government’s Farm Household Allowance. To apply for the waiver Farm Household Allowance approval documents need to be emailed to au.droughtrelief@aia.com before 31st December 2018.

AIA are also a proud supporter of the Black Dog Institute which works to understand, prevent and treat mental illness. They encourage any farmers needing support to contact www.blackdoginstitute.org.au

If you are a customer of Insurance Watch and have been affected by the drought please Contact Us as soon as possible.