COVID-19 and your Life Insurance

COVID Total and Permanent Disability Claims Initiative.

Life insurance companies participating in this initiative agree to ensure that if people lose their job, are stood down or have reduced working hours due to COVID-19, now extended to 1 January 2021 for claims lodged by 31 March 2021, this will not affect their total and permanent disability (TPD) cover if they make a claim.

For more details on this and other FSC life insurance industry initiatives, including the COVID-19 Commitment to Frontline Healthcare workers (now extended to 1 January 2021), please see here.

COVID-19 Vaccinations

There have been false claims that having the Covid-19 vaccine will impact your life insurance cover. This is not true. To be clear, receiving a vaccination against Covid-19 will not affect any application you make to take out life insurance or any claim you make on life insurance you already have.

FSC has issued a media release on this topic which you can find here.

About the Financial Services Council's Members

The Financial Services Council (FSC) is a leading peak body which sets mandatory Standards and develops policy for more than 100 member companies in Australia’s largest industry sector, financial services. Our Full Members represent Australia’s retail and wholesale funds management businesses, superannuation funds, life insurers, financial advisory networks and licensed trustee companies. Our Supporting Members represent the professional services firms such as ICT, consulting, accounting, legal, recruitment, actuarial and research houses.

The financial services industry is responsible for investing almost $3 trillion on behalf of more than 14.8 million Australians. The pool of funds under management is larger than Australia’s GDP and the capitalisation of the Australian Securities Exchange, and is the fourth largest pool of managed funds in the world.


The Financial Services Council (FSC) is a member of The International Investment Funds Association (IIFA), an association which provides a forum for global information-sharing and collaboration to promote the investment fund industry.

Find out more about the IIFA here;