Providing personal risk insurance advice can sometimes be a dry topic. However, in doing so we really have two choices; discomfort now for certainty in the future, or comfort now for certain pain in the future.
You see, in reality, when we are advising our clients, we are asking them to hand over a cheque (the premium) in return for a piece of paper (their insurance contract). However, that piece of paper is a promise to pay a benefit should a contractually defined event occur.
In all my client interactions, I continually discuss that the two biggest value adds they receive from companies like ourselves are; setting up personal insurance policies that give ‘assurance’ in the event of a claim and providing assistance to help navigate a claim and ensure that it is processed easily and smoothly.
So this month I wanted to share some of our great recent stories for clients who have been financially protected when they needed it most.
- A mother in her late 40s, who we helped discover that her insurance policy covered Breast Cancer. She was completely unaware her policy covered this, and subsequently received a $210,000 payout to help cover her medical costs.
- A self-employed Doctor who needed three months off work to recover from surgery had his income and the ongoing expenses of his practice covered – totalling nearly $150,000.
- An Australian expatriate in his late 30s who we help settled a life insurance claim for $1.3million, providing much needed security for his wife and family.
- A self-employed carpenter who had claimed on his income protection firstly for pneumonia and then for breaking his arm while at work. This has ensured that while he isn’t working, his bills are paid.
- A senior executive who received a $120,000 Trauma insurance payout upon diagnosis of Parkinson Disease and the acceptance of their long term income protection claim, providing much needed income support for many years to come.
- A lump sum payout of $500,000 for a client in their early 50s who is suffering from Uterine Cancer.
Life is full of unexpected twists and turns. That’s why it’s important to ensure you are protected.
We love helping each of our clients to understand their risks and personally tailoring solutions to meet their needs. If you would like to discuss your personal protection plan in greater detail, or discuss planning one for the future, we encourage you to speak with your local financial adviser for protection and peace of mind.
By Paul Milbourne
Risk Insurance Adviser