It’s hard to truly appreciate the role insurance can play in your life until you need to claim.
Here are some real life examples of the incredible difference it can make. There aren’t too many products you buy in the hope that you’ll never need them. Life insurance is certainly one of them. But for those families who have had to claim on their policies, the difference it can make in their lives can be extraordinary.
The following stories come from real people – giving you an insight into the real value of taking out the different types of insurance.
Rob and Sandy – Life insurance
Rob and Sandy were expecting their first child. Rob was diagnosed with primary and secondary cancer and was not expected to live for more than 12 months. This meant he qualified for the Terminal Illness benefit under his life insurance policy.
Westpac paid rob over $615,000 which allowed him to spend time with his son for the first eight months of his life, from the first smile to the first words.
Sandy left this moving message for the claims officer after receiving Rob’s benefit payment: “All my husband wanted was to make sure his wife and child had a roof over their heads, and this has now been established”.
Nadia – Trauma Cover
Nadia, a self-employed mother of two, was diagnosed with a rare form of cancer. The medial reports confirmed that she had suffered an event covered by her trauma policy, and she was paid over $300,000.
This gave Nadia crucial financial flexibility at a time of great stress. It allowed her to use the proceeds of her claim to meet the costs of the latest cancer treatments, and meant she could sell her business to spend more time with her family.
“This has given me and my family a great new meaning and value on life.”
Harry – Income Protection
Harry, 35, a project manager, was married with 2 children. He was diagnosed with a blood vessel malformation that put pressure n his lower spinal nerves and reduced his mobility. He need surgery and physiotherapy, which meant a long time off work to rehabilitate.
Harry’s income protection policy paid him a monthly benefit of $6,619 which allowed him and his family to meet their home and living costs during his time off work.
“Overall the claim went through pretty smoothly, the consultants I spoke to were very professional, offered al the help they could and were very understanding.”
Dean and Pat – Total and Permanent Disablement
Dean, 52, a Barrister and Pat, 54, a self-employed business analyst were focusing on saving for retirement. After collapsing and suffering a stroke, Dean’s core communication skills were affected.
Dean’s total and permanent disability payment allowed him to access the best medical and rehabilitation services, and Pat was able to stop work and become Dean’s primary carer. With the benefit they received they were also able to pay off their remaining mortgage and invested the rest to continue saving for retirement.
“The claims consultant showed compassion and was understanding, professional and concise which made the process very easy.”
Is your cover up-to-date?
If it’s been a while since you’ve updated your insurances it is important to contact a Financial Adviser who can help put your protection plan back on track.
If you need help, feel free to contact us now to arrange a complimentary appointment with one of our friendly Financial Advisers.
Case studies and testimonials are for illustrative purposes only. They are case studies and testimonials of real life examples and people. Names have been withheld but quotes have been reproduced with permission.