We have mentioned the importance of having personal insurance on this blog in the past, and it is a common aspect of what many consider ‘financial planning’.
There are many reasons why in most cases we recommend having some risk management strategy (be it insurance or otherwise), and the simplest one is that while most people are aware of the current statistics around cancer and other serious health issues, many do not consider the realities of what will happen to those around them if they themselves encounter these issues.
To this point, like having house or car insurance, we take out policies hoping we will never need to claim on them.
In 2012, EJM has handled more claims on personal insurance than we can recall for quite some time;
- 9 separate claims year to date
- Types of claim vary from Income Protection, Death benefit, Trauma and Total Permanent Disablement
- Payouts have ranged from $7,000 (Income Protection claim) to $1m (Death cover payment)
- Providers claiming from include AMP, ING and MLC
In the unfortunate event that our clients do need to lodge a claim, Charlene (as seen above!) will ensure that the sometimes confusing process will be as smooth and quick as possible.
This means doing whatever it takes to get the best outcome for our clients, whether that is meeting them at home or at hospital, simplifying the application process or just lending a sympathetic ear.
Insurance is usually not a very exciting talking point with clients, but when we are able to be there for them in times of need and see their risk strategy put into action, it is as rewarding an experience as we can hope for in business.