At Protection Solutions we have seen three recent claims paid where clients had no idea they could claim, in excess of $300,000 paid out!!!! In the office we regularly spend time reviewing our client’s policies. As such we will ask the client what their current situation is and then align the policies with what is happening in our clients lives at the time. Often we are told that the client has had a recent health event. Over the last year we have uncovered THREE TRAUMA CLAIMS that had not been identified and claimed on. The three claims came to over $325,000 and if we had not done these reviews the clients would not have ever known they could claim. Let’s take a closer look at these claims in detail:
The first was a payment of over $150,000 following a brain bleed, our client had spent several weeks of work and was not aware that they even had trauma cover. Better still they also had an income protection policy in which we were also able to get a small claim paid and a full premium refund. While unwell, all up over $165,000 was paid. He still had the income cover so we can claim if the situation gets worse going forward. We were not however the original advisers, he came to us for a review and we immediately identified that there was a claim due. The medical event happened about three years ago.
Grant has been carrying out regular reviews for a client in their early 60’s. About three years ago Grant identified that as the client had been in hospital and had a triple heart buy-pass there should be a claim on both the trauma and the income policy. For whatever reason, the client would not complete the claim forms. At the last review with a bit of a push and due to Covid-19 effecting their business we were able to get the paperwork completed. A $60,000 payment was in their account within three days and a claim on the income protection is to follow along with a refund of premiums.
Finally, we had a new client come and see us for a review. She had a range of covers including life and trauma cover (we had acquired several clients from a retiring adviser). Talking with her and explaining what the covers do, she identified that she had had a mastectomy around 2013 due to cancer. She had told her adviser at the time who said to her that there would be no claim payable, so she did not pursue the claim. After a quick look over the policy document and the cover she holds, it looked very much like a claim would be accepted. We collected the medical notes from the clients and a claims form and submitted the paperwork to Asteron. Three days later the claim had been referred to their senior medical officer and the claim was paid. $115,000 plus the last few years premiums were paid.
It was an even better surprise when she dropped of the bottle of Coleraine as a thank you to the team here in the office. We just can’t decide who gets to take it home! These client claim stories and a number of other clients we have identified over the years is why you need an adviser and not a bank or direct insurance program. A regular review and a good update on covers is always a must.
If these stories have inspired you and you would like a team who look after clients, regularly review the covers you hold and look out for you at claim time please contact us today, we would love to be your insurance advisers.