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457 visa holders can now zoom to cover

June 30, 2017 Insurance No Comments Email Email

In April, drastic changes were announced to the existing 457-work visa. 

The Federal government stated that it would officially replace the 457 program with a Temporary Skill Shortage Visa by March 2018 and strip the list of jobs available to visa applicants.

In addition to new employment rules, those on 457-visas may also face stricter criteria when applying for credit cards and personal loans once the changes come into effect.

However, changes to the visa rules won’t necessarily affect all financial services.

Kate Smith, Marketing Manager of Zoomtravelinsurance.com.au says,

“The status of 457 visa holders is about to change significantly. In addition to employment restrictions, visa holders will be tasked with stringent requirements when accessing provisions like loans and credit cards. However, we’re happy to say that Zoom travel insurance will continue to cater to non-residents despite the new reforms.”

A new player on the market, Zoom Travel Insurance, will provide cover to non-residents without access to Medicare. Currently, the vast majority of Australian travel insurers exclude cover to this demographic.

For 457 visa holders wishing to travel overseas, the company offers respite despite a climate of uncertainty.

Smith says, “Zoom understands the diversity of people immigrating to Australia to work. There are currently over 95,000 457 visas holders in Australia filling work shortages in valued industries like healthcare and hospitality. Zoom believes that skilled workers are a necessary asset to Australia and a group we want to insure.”

Along with 457 visa holders, Zoom also provides cover for non-residents on 417 working holiday visas, as well as those on partner/defacto or student visas.

Smith says,

“Until now, options were really very limited for non-residents trying to find protection for their overseas trip. Many providers claim they will cover non-residents wanting to travel outside of Australia but only in so far as they are eligible for Medicare benefits.”

“At Zoom, we believe that temporary residents have just as much a right to travel safely and securely, regardless of their country of origin. So long as your visa is valid, you’re currently residing in Australia, intending on travelling temporarily overseas, and have private health insurance (a requirement of your visa to be in Australia in the first place), Zoom will cover your overseas travels.”

Smith believes that travel shouldn’t be off limits to those wanting to explore nearby destinations such as New Zealand and Asia and that insurance should be viable to all travellers, regardless of race.

“Part of the attraction of relocating to work in another country is to experience new cultures and travel to nearby locations. It seems mad to us that the majority of other insurers within the Australian market exclude cover for this group of people. At Zoom, we believe that travel insurance is for all Australians, temporary and permanent.”

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