'Clark's Story' - a claims story to share

This is a picture of Clark’s knee. We can’t show you his face. And no, Clark is not his real name. However Clark had a very big problem.

Clark and his wife Lois (also not her real name!) are a gorgeous young couple with 2 beautiful children aged 3 and 5 and a decent size mortgage (they are living in Sydney!). They are both self employed and work in white collar occupations. They are smart, savvy, fun loving people who are busy raising their family and working hard at their careers.

Like many of us, they would sometimes lie awake at night and wonder what would happen to their family if something happened to one of them? How would they survive financially if they could not work? How long could their savings last?

And last month, those unexpected circumstances happened. Clark was in an accident and broke his kneecap. He required major orthopaedic surgery to put his knee back together and was in hospital for 10 days. Clark will recover but he cannot drive for 6 months and has a long road ahead in rehabilitation.

Lois rang me initially to tell me about the accident. She was worried about Clark and was not sure how long he would be in hospital. Clark called me the following day, he was worried about work and losing his contract which would affect his family’s lifestyle.

Clark and Lois had been to see me a couple of years ago and we implemented a comprehensive insurance plan. They had lots of questions and a tight budget but we worked through the process of finding out what was most important to them and what suited their budget. They felt great peace of mind knowing they had put a plan in place in the event of unexpected circumstances.

Insurance is a funny thing, it’s not until you really need it that you suddenly value it greatly. No one really wants to pay premiums however when you need to claim, you are really glad that you have paid those premiums. Clark had a comprehensive income protection policy and this was going to be able to provide financial assistance. When I asked Clark how this made him feel he replied "relief, absolute and unquestionable relief. Having the income protection in place was without a doubt the best thing my wife and I have done. I never thought I'd ever really need it, and certainly not have to make a claim so soon. Tanya and the insurer have been simply brilliant. At a time when I was both physically and mentally fragile having the financial pressure removed allowed me to relax and concentrate on my own health, wellbeing and evaluate how to move forward from the accident and get back to my work."

Insurance is a necessity for most people at some stage in their lives. Don’t think it won’t happen to you, be prepared and enjoy that peace of mind. Get in touch to review your needs.

General Advice warning: This communication has been prepared on a general advice basis only. The information has not been prepared to take into account your specific objectives, needs and financial situation. The information may not be appropriate to your individual needs and you should seek advice from your financial adviser before making any investment decisions.