Sunday, 3 June 2012

Income insurance with HIV?

I've just spent some time online seeing if I could change the insurance on my Superannuation account, at Australian Super. Last year when I was sick I could have been paid from income insurance through that instead of having to rely on a measly $300 a week from the gov sickness benefit. I couldn't though as for some reason I wasn't covered for income insurance.  So I've applied to see if I can get income insurance, as well as the death or disablement I'm already insured for (yes darlings I'm worth more dead than alive).

I've already changed the investment option for my actual funds in there a couple of weeks ago to a safer one. Rather than just leaving it all in the default fund (which so far looks like it's got all of about 2% or something stupid since last July) I switched it to a less volatile option. It was all very easy to do that one, just a thing online, logging in,  and it was changed the following Monday.

I'm not optimistic about the investment future with the share market. There seems fundamental problems that exist around the world that even if the issues were actually being addressed as they should, it will be years before the global economy recovers to anything like it was. However everyone seems to be too busy arguing with each other about it all to make much progress. The EU looks in danger of fracturing, and Americans can't agree on anything let alone a way out of the economic mess. Republicans still hold to the notion of Reaganomics, and apparently the real issues are gay marriage and the like, not that Reaganomics is a 30 year failure.

We're even starting to feel the pinch down here in Australia now, such is the slow down globally that the resources boom to China is weakening a bit. So far we've largely avoided anything too drastic. Avoided a technical recession (just). Unemployment never went above about 5.5%, with many coming from overseas attracted by the labour shortages here. Housing is still outrageously expensive here. 

Anyway the application to change my insurance turned into a great online thing, and it's been "referred" for further appraisal. I'll actually be surprised if it's successful, as I had to answer "yes" to the HIV question. They sent me an email:

Your insurance application is being assessed to work 
out if you are eligible for extra cover.
 
What happens next?
 
1. Please check that all the information you provided is 
correct - login to your AustralianSuper account 
at www.australiansuper.com to access your application. 
 
If you find any errors, contact the Insurer, TAL Life 
Limited, on 1800 666 136 immediately. 
Please note this additional information may alter 
the Insurer's decision.
 
2. TAL Life Limited will review your application and
 may contact you to confirm, or request more information. 
This may include a request to sign a Medical Authority 
form to authorise the release of your medical history 
to TAL Life Limited.
 
3. Once the assessment of your application is complete, 
AustralianSuper will write to you to let you know the 
outcome of the assessment.
 
 
To track the status of your application, login 
your AustralianSuper account at www.australiansuper.com
 
 
Sincerely,
 
 
TAL Underwriting Service
On behalf of AustralianSuper
Update: I can't get it.

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