Illness or injury can strike at any time and the serious financial consequences can be devastating to an individual, a family or business.
Dealing with a Risk Insurance advisor who will not only take care of your claim requirements but also consider the personal turmoil you are experiencing, can make what is already a traumatic experience a little more comforting.
A Nurse for more than a decade, I made the career change to financial planning and began specialising in risk insurance, drawing on my medical knowledge to understand more deeply the circumstances of our clients requiring insurance for sickness, injury or death.
I have seen firsthand both as a nurse and financial planner, the impact on families when people don’t have any or enough insurance.
A recent case utilised my medical background to our client’s advantage when he was diagnosed with a brain tumour. One minute he was going about his daily business, and the next he was hit with news no-one wants to hear.
At that point it became important for him to work with an experienced advisor who could take him through the claims process thoroughly. He was extremely concerned about how he was going provide for his family as well as cope with his diagnosis, treatment and recuperation.
Typically clients in this situation are angry, upset and confused and have no idea about the types of insurances they have, what they pay out on, and how to go about claiming any benefits.
Handling everything on behalf of our client, we ensured he understood and was comfortable with the claims process, enabling him to focus on his treatment.
It is a very complex business understanding how the claims process works to get the best return possible, and it is an advantage to understand the medical system and what information is required to be submitted.
In the case of our client, my liaison between the specialist and claimant helped guide all parties through the process to maximise the client’s entitlements.
In this case, my client was able to apply for an additional benefit on his income protection policy that he was unaware of which provided much needed financial support to supplement his reduced income and medical expenses.
He also had lump sum cover which allowed him to provide for his young family, something that was very important to him. It meant not selling his home and maintaining the lifestyle he had worked so hard to achieve.
Without specialist help many people miss these opportunities and the whole claims process can be very slow which is something most people in these situations just can’t afford.
Risk Insurance is more than obtaining cover and paying premiums. Ongoing review and claims management is very important. Please contact William Buck’s Risk Insurance Manager Karyn Hilton on 08 8409 4333 or Karyn.Hilton@williambucksa.com.au for further information.