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When having the right insurance really counts

Laura*, one of our Auckland clients tells us, "A change in circumstances five years ago necessitated the restructuring of all my financial arrangements. As the single parent of a special needs child, it was particularly important that I got it right and a friend directed me to Apex Advice Group. In no time I found myself with a mortgage that optimised flexibility, while minimizing interest payments, comprehensive insurance coverage and an investment plan for our future."

Laura's adviser suggested that she should take out Trauma Protection amongst other policies. It was something she hadn't really considered before, but Laura could see the logic and thought this new cover really did fit her circumstances and followed her adviser's recommendations.

"Last year I was diagnosed with cancer. I was assured that it was fully treatable and not life-threatening, but would require surgery and radiotherapy", says Laura. "When I contacted Anne Wakeham, my Apex adviser, with the news that I was undergoing 'minor surgery' it was actually to ensure that I was leaving accurate information for my estate in the unlikely event that something went wrong. I was surprised when she suggested the possibility of a claim under my trauma policy".

Laura's surgery proceeded successfully and claims documents were forwarded to her to fill in. "My claim was processed quickly and efficiently with no further input from me, and the Claims Specialist kept me fully informed along the way. Happily, my claim was accepted and funds were credited to my bank account within 24 hours of approval!"

"The boost to my bank balance was a great deal more than a 'welcome extra'. Much to her amusement, I insisted that my adviser Anne should double check the amount I received because I didn't feel that my experience had been quite THAT traumatic. And I certainly didn't want to find I was the subject of a clerical error that would require some repayment".

Laura was happy to find she had indeed been paid what she was entitled to. She says that having her Trauma Policy pay out made a big difference in her recovery. "Obviously this has taken a lot of pressure off me - I have been able to take some time off work and to take things a bit easier by contracting out some tasks that I would otherwise have been obliged to complete myself".

Just as important as getting the right insurance for your circumstances, is making sure you review your policies regularly. If you'd like to review your existing plans with your financial adviser, contact us on 0800 500 510 or advisers@apexgroup.co.nz.


*The name of the client has been changed to protect her privacy. The details in this story however, are true.
Image courtesy of David Castillo Dominici / Freedigitalphotos.net