Steve was overjoyed when he discovered recently that the insurance cover, he took out 15 years ago, was to be his financial saviour when he suffered not one but two health incidences.

At 36 Steve took out three different styles of insurance being, life insurance, income protection and trauma cover with Lambert Group Future Planning. He understood at the time that these policies were to protect him to cover debt, income, and unexpected illness respectively.  Of course, he like everyone hoped he would never have to call upon it, and until now this was true.

Now 15 years later, at 51 years of age, Steve came to Lambert Group for income protection as a result of a mental illness. On finding out that he met the criteria under his insurance cover Steve was relieved to be able to claim for loss of income receiving $112,000 to date with an ongoing $9,000 each month for as long as his health required.

As a part of the conversation that Steve had with Lambert consultant, Kathy Churchill, he mentioned that in addition to his mental health issues he had been diagnosed with a melanoma. Kathy immediately took upon herself to find out more from Steve to see if he qualified under his trauma cover. For Kathy, this was ‘business as usual’ however for Steve this was help that was over and beyond what he expected from his insurance provider.

Which is why Steve was in tears when Kathy called him with the news that he qualified for trauma cover in addition to the income protection he had already received. 

“Dear Kathy and Ron, words cannot express my gratitude to you both. Ron, you arranged my policies 15 years ago and I cannot thank you and Kathy enough for the support, care and attention I was given when I needed to make a claim at a challenging time in my life. A special thank you to Kathy, I felt that you went above and beyond, and I am forever grateful.  Regards Steve

To date Steve received nearly $400,00 to support him during a very trying and difficult time in his life. For him protection for the long haul has certainly paid off.

This case study exemplifies the importance of setting up your insurance cover when you are young and fit and when you have no pre-existing conditions ensuring, like Steve, you are covered for debt, salaries and unexpected illness. It is also a good reminder of keeping up to date on your insurance so that you know what it covers, and when you can use it.

Ron Lambert, Managing Director and Executive Chair of Lambert Group Future Planning was overjoyed to know that Steve was able to get the cover he needed when he needed it. In fact if asked he will tell you that at 36 years of age, Steve was late in setting up his insurance portfolio suggesting that your twenties is a far better timeframe to do this.

Is it time for you to consider your insurance portfolio, or maybe time to become reacquainted with your cover? Not sure, speak to a Lambert Group Future Planning consultant on (02) 9542 6577.

Suffering a life-threatening illness is devasting for everyone concerned. However, finding out that your insurance covers you for that illness relieves some of the pressure of additional health costs and loss of income. While receiving that cover quickly and effortlessly helps in an already high stressed situation.

In the case of Jan and Mark this is exactly what happened.

Jan and Mark first took up a critical illness and trauma insurance policy when they were in their 30s. Time went by, and they had no need to call on their policy, although always knew it was there for a future eventuality.

Now in their early 60’s Mark was diagnosed with Polycythaemia Vera, bone marrow cancer.

Jan rang her contact at Lambert Group unsure if their current insurance would cover Mark’s situation. Clearly under some stress her words to us were, “are we covered by insurance?”. Although saddened by Jan’s news, we were pleased to be able to confirm that Mark’s condition was covered, and arranged immediately to send her the claim forms that Mark needed to fill in. 

It is never good news to hear that a client is ill or suffering trauma however it is our job to ensure that when a client is under stress, and unsure of their next steps, we can guide them quickly and efficiently.

The good news was that Mark received a $50,000 payout within a week of putting the claim forward. He and Jan were relieved to know that while Mark goes through a long period of treatment there are funds to cover his medical bills.

We suggest our clients review their insurance at key stages in their life. Often this links to starting a family, children leaving home, or nearing retirement. When is the last time you reviewed your insurance, even if it is simply to remind yourself what it covers?Looking for insurance advice? Give the team at Lambert Group Future Planning a call on (07) 3010 3410.

Insurance can help make a bleak future brighter
An insurance policy is a promise that sits in your bottom drawer; hopefully you never need to call on that promise. However; as this Lambert Group client story shows, when you do need to make that call, it can help make a difference to what might otherwise be a bleak unknown future.

If you are not sure if you have enough insurance cover give us a call and let’s go through it together.

*All of these cases are clients of Lambert Group with some names and locations changed to protect the individual client’s privacy.