We are passionate about helping deliver the protection and certainty Australians need on their best and worst days. For Australians who suffer from an illness or injury, life insurers are currently limited in their ability to help them on the road to recovery and the return to work.
Life insurers can provide rehabilitation that has an occupational or vocational focus. However, legislation prevents them from providing targeted benefits that may otherwise be covered by a private health insurer or are covered by Medicare.
There is great potential for life insurers to develop new products and offerings that would help people recover from illness or injury and return to work. Allowing life insurers to have greater involvement in rehabilitation would help create a more complete support system for people who have an injury or illness that impacts their ability to work.
Specifically, allowing life insurers to fund medical treatment and medical expenses for those eligible under a continuous disability policy would help minimise existing gaps in Australia’s income support and healthcare system that may restrict or prevent an effective return to work. It would also provide greater scope for life insurers to fund, not just promote, evidence-based early intervention and self-management options.