Income protection insurance isn’t something most of us think about – until life takes an unexpected turn. For Alex, a healthy, active Kiwi, that turn came in early 2024 with a terminal cancer diagnosis. Suddenly, everything changed.
A Life-Altering Diagnosis
In early 2024, Alex was diagnosed with a rare and aggressive form of cholangiocarcinoma. Caught early, this cancer can be surgically treated, significantly improving survival chances. But in Alex’s case, it had already spread beyond the liver. While surgery was technically possible, his doctors warned it would give him just a 2% chance of survival. With that prognosis, Alex was given an estimated 12 to 18 months to live.
“Life got pretty serious pretty quick,” Alex recalls. “Suddenly everything we knew was turned upside down, and we were faced with a reality with the financial processes and constraints attached to it.”
Looking Beyond Borders for Hope
Despite the devastating news, Alex and his family were determined not to give up hope. While there were no treatment options available in New Zealand, Alex kept searching – and discovered a world-leading specialist based in Canada.
Through his wife, a Canadian citizen, and her brother, Alex was eligible to access this overseas treatment programme. But moving countries for care came with a significant cost. Fortunately, Alex and his wife had income protection in place – a decision they made years earlier, without ever expecting they’d need it.
“Without the cover, we would be in a whole lot more stress,” Alex says, “dealing with even more financial stress than we had with the diagnosis we got.”
Family, friends, and the wider community also rallied around Alex, supporting him through Givealittle campaigns and personal fundraising efforts.
What is income protection insurance?
Income protection insurance is a tool that can cover a portion (up to 75%) of your income if you are unable to work due to having a serious illness or injury. It’s not about replacing every dollar, but it can be the difference between managing through tough times or facing serious financial stress.
When Insurance Becomes a Lifeline
Like many people, Alex admits insurance didn’t always feel like a priority.
“Before my diagnosis, I thought of this as a nice-to-have, and not a must-have,” he says. “My message to others is: You just don’t know what’s around the corner. You just don’t know.” Willie Moala, Alex’s insurance adviser, agrees:
“For many, insurance can feel like a begrudging expense. But in my view, it’s a must-have. I’ve seen the life-changing impact a good policy can have when the unimaginable happens – and unfortunately, I’ve also seen what happens when people try to get cover after a diagnosis. By then, it’s often too late.”
Willie also points out that with income protection, payouts can still apply even if you’re receiving treatment overseas – something many people don’t realise until they need it.
Support When You Need It Most
Another major advantage of working with an adviser is the support you get at claim time – when you’re least able to deal with the stress of paperwork and policy fine print.
“Willie was incredibly helpful throughout the process,” Alex says. “As soon as I got my diagnosis, I sent him an email. He replied within hours and set up a call to go over everything.”
“That was gold for me. I wasn’t really processing anything at that point, but I knew finance was going to be a big factor. Willie walked us through it all – what the cover meant, what we were entitled to – and just took that weight off our shoulders.”
A New Perspective on Life
After several months of treatment in Canada, Alex has made meaningful progress in his recovery. He and his family have now returned home to New Zealand and are settling back into familiar routines.
Though he’s not completely out of the woods – his condition carries an 80% risk of recurrence – Alex remains focused on the present.
“In a funny way, I’m probably grateful I’ve gone through it. I wouldn’t wish it on anyone but the perspective and the sort of reflections you have you pretty much solidify what’s important in life and what’s not. We get a bit lost sometimes.”
“Staying the moment, controlling what you can control. I found pretty early on there’s no point getting in the negative narratives. They’re easy to get into but that wasn’t going to help. So, staying optimistic and positive and you know just doing everything I could and I just tried not to let negative thoughts creep in to how we’re approaching things.”
Alex shares his story in more detail on the Where’s My Money? podcast which you can listen to below:
Is It Time to Review Your Insurance?
Alex’s journey is a powerful reminder that life can change in an instant – and having the right protection in place can make all the difference.
If it’s been a while since you’ve reviewed your insurance, now’s the time to speak with a professional. An AdviceFirst Insurance Adviser can help you build a plan that fits into your life, meets your needs, and protects your future.
Book a review with AdviceFirst today.
