Earlier this year, we received notification from a client who wanted to cancel his cover because he thought it was too expensive. Our Adviser, Dean MacLeod, met with the client to review his policy and situation.

Dean takes up the story. “First, I completed a ‘needs analysis’ looking at his current situation which indicated some changes could be made to reduce his premiums. I also asked him if he had any health issues.”

It turned out that the client had a melanoma removed from his forehead a couple of years earlier. Thankfully, the cost of this procedure was paid by his medical insurance.

“I recommended before we made any changes to his life insurance policy, we submit a trauma claim. He was comfortable with the idea, but didn’t believe it would qualify,” says Dean.

For the next two months, Dean found himself chasing the client for the completed claim form. “He eventually told me that the surgeon was delaying the process, saying the client shouldn’t bother with the claim as he wouldn’t qualify,” says Dean.

“I pointed out to the client that while doctors are absolute experts in their field, the decision rests solely with the insurers whether a claim is paid or not, and to ask the surgeon again to complete his part of the claim form.”

Four days after submitting the claim, a full trauma claim of $165,286.27 was paid into the client’s bank account.

And after all this, the client has decided he needs to keep his policy.

It goes to show the importance of regular financial reviews and meeting with your experienced financial adviser, particularly one who specialises in this kind of situation.

You may not remember all the details of your policy, but that’s why it’s important to keep in regular contact with your financial adviser – because we know the products inside out. We know the providers. We know what the fine print really means. And we’ll be there to help you at claim time.

Give your financial adviser a call today on 0800 438 238 – we’re happy to help.

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