There is no doubt that the very thought of claiming on your own insurance policy is depressing, but the research proves that you (and even me) may be unable to work for an extended period during your working life due to sickness or an accident. The problem is that nobody has any idea of when that might happen. Please try to fight the urge to stop reading now and ‘worry about it later’ because there is an important message here.
It’s a confronting topic that makes us think about our own mortality. However, as a financial adviser I have helped many clients through the process. The worst can happen to anybody. If it does happen to you, you want to make sure that:
i) you took due care (supported by advice and help from someone in the know) when preparing your initial application, and
ii) that you actually have the cover in place. The first question after, ”are you ok?” is often, ”do you have insurance?” If you think your answer would be, ”I think so” or ”no”, please stop now and consider how your family would cope in this situation, or more to the point, how would you cope financially if something happened to a beloved family member?
Before you get to that point, where do you start if you don’t have cover?
Firstly, at Leenane Templeton you can talk with Roger Ward a licensed financial adviser who specialises in Personal Risk Insurance. The application process is so important to ensure a stress-free outcome in the event of a claim. It has to be done right; and the conditions and definitions (the boring stuff) must be spot on. Don’t be satisfied with approval of cover that required very little in the way of medicals or blood tests. You may think you have cover but it’s a nightmare to be told at claim time your application is rejected because you ‘broke the rules’ since you forgot (often genuinely) to tell the insurer something small but now seemingly crucial.
A professional adviser like Roger will ensure you have insurability from the very moment the cover is granted. Yes, you will have to pay for that advice, but believe me it’s invaluable. As I say, the last thing anyone wants when they have suffered a serious injury or have been diagnosed with a life-threatening illness is a delay. Or worse still, have any doubt the claim will be paid.
This is where the role of an adviser throughout is so important. Your adviser will know someone ‘higher up’ and ‘in-house’ who can back them up through the process. That means, it’s not only your adviser who is onto the insurance company but their contacts, who are often part of a large Head Office which the insurer does not want to get offside. This alone is a huge factor over buying insurance ‘online’, because who will be there to back you up?
Roger is ready to answer any questions about insurance you may have.
Call (02) 4926 2300 or email us.
Please don’t put the insurance talk off any longer – and this is the pulling on the heart strings part – do it for your kids and family if for nothing else.