Australia is now in the middle of the COVID-19 pandemic.
With rolling lockdowns and much general uncertainty ahead, as we race towards the nation's next mass vaccination target, it's only natural people are looking for certainty and asking important questions about 'whether COVID-19 affects their life insurance policies in any way?'
Well we have some good news to share.
Here are some of the most frequently asked questions we’ve received about life insurances and COVID-19 and COVID-19 Vaccinations.
In 2019 over $33 million dollars in claims were paid out each day by the Australian Life Insurance industry.
Unfortunately the trend for these figures to continue to rise post COVID19 pandemic.
HIV is not a top of mind conversation starter for most straight guys and girls so many straight people believe HIV is not a health issue for the straight community; but they would be very mistaken.
Here are some tips to help navigate the application process.
Yes, it makes perfect sense to think about life insurance today - especially today - because life still happens to us all, all the time, even during difficult times.
One of the dangers of living through difficult times (and the LGBTI Community is no stranger to surviving difficult times) is we can sometimes fixate on the biggest issue and ignore the most important issue - our life, love, and relationships continue regardless.
Our innate adaptability can lead many LGBTI couples to embrace wildly different financial goals, styles and circumstances in our partners.
The reported experiences of women living with HIV can be very different from men.
Many women navigate their treatments and their daily lives differently from their male counterparts.
For many Australians, having children and raising a family is a natural and important part of their lives. But for some people, this dream doesn't come easily and when other avenues have been exhausted, options for surrogacy are considered.
Gestational Surrogacy (as apposed to Traditional Surrogacy) uses a form of assisted reproductive technology (ART) where a woman (the surrogate) offers to carry a baby through pregnancy on behalf of another — a person or couple, same-sex or heterosexual — and then returns the baby to the intended parent(s) once it’s born.
Traditionally, Surrogacy was one way only heterosexual couples, who had difficulty falling pregnant or who were unable to carry a pregnancy safely, could have a child of their own.
Now a growing number of single parents and same-sex couples looking to start their own families are looking to use Surrogacy.
We're all about protecting both the intended parents and their surrogates from the major insurable risks of life and unexpected disability.
We specialise in helping;
in a respectful and confidential way, with a minimum of paperwork and no need for a face-to-face meeting.
If you're an intended parent and partway through the roller coaster that can be Altruistic Surrogacy in Australia, you may have already spent what feels like a small fortune on medical and legal costs.
We also understand you may even have had to battle a level of ignorance and stigma from the un-informed portion of the community, or even extended family.
Although it may not be the most pleasant thing to think about, it's true pregnancy is not without risks.
This is why Unusual Risks Insured provides comprehensive life insurance and disability protection for intended parents and their surrogate.
Family Protection planning involves;
It is important to protect everyone involved in a surrogacy arrangement against the risk of one of the adults involved unexpectedly dying or unexpectedly becoming long-term disabled?
The intended parents should;
We can help you with these critical steps in your surrogate journey.
We understand the complex process (and array of emotions) that can be part of the surrogacy journey, so we create solutions to fix potential problems before they ever arise so you can have more time and emotional space to enjoy the journey you’re on together.
We work with intended parents who are;
Laws relating to surrogacy are managed independently by different Australian states and territories. Altruistic Surrogacy is legal in Australia as is paying for a Surrogates's life insurances and disability insurance policy premiums.
In NSW, the Surrogacy Act 2010 recognises certain surrogacy agreements, prohibits commercial agreements and clarifies the status of children born via surrogacy.
Section 7(3) of the Act outlines what is considered the surrogates reasonable costs associated with the pregnancy or birth as;
(a) any reasonable medical costs associated with the pregnancy or birth (both prenatal and post-natal),
(b) any reasonable travel or accommodation costs associated with the pregnancy or birth,
(c) any premium paid for health, disability or life insurance that would not have been obtained by the birth mother, had the surrogacy arrangement not been entered into...
We understand for intended parents, knowing how and who should best arrange high quality life insurance for their surrogate can be complicated and loaded with privacy and practical personal concerns.
For over 20 years, the Financial Advisers at Unusual Risk Insured have watched Australian legislation lag behind the needs and demands of the community and how insurance companies have tried to quietly avoid this type of client; so were decided to be the change we wanted to see in our community.
All life insurance policies vary from company to company, as do their policy features and conditions.
As the awareness of Surrogacy increases, some insurance companies have started writing policies that only cover a pregnancy within the family, not a surrogate pregnancy.
Our fee-for-service advice model allows us to provide Intended Parents the highest quality insurance for their Surrogate, at a wholesale price - something simply not available through traditional sources.
After the pregnancy, a Surrogate also has the option to simply take over the insurance policy (and keep its wholesale price structure) - potentially saving then thousands of dollars off the standard premium rates over the length of a life insurance policy.
Make sure you're aware of these recourses:
Learn about our Surrogacy and IVF Life Insurances.
Have questions? See our Frequently Asked Questions specifically for surrogacy services.
Read about our range of Services. See Our Services.
Ready to know if we can work with you? Get in touch with us for a chat.
If you’re part of a gay couple, here’s 6 power money decisions that help LGBT couples get on the same page financially, and stay on track together.
Because who wants to spend a lifetime arguing about money, right?
When it comes to being single in the LGBTQI+ community, there's really no such thing as average.
And it's your single life, so live it your way.
When it comes to being partnered in the LGBTQI+ community, there's really no such thing as average.
There's no right or wrong way to live a purposeful life, just what works for you both.
When it comes to parenting in the LGBTQI+ community, there's really no such thing as average.
However you're doing it, Love makes a family.