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NAB to retain Aviva
The National Australia Bank have assured financial planners that they will be retaining the insurance arm - Aviva. This comes after speculation that the NAB and MLC wealth group would offload the Aviva business so that it could continue with it's purchase of AXA.
Real life Trauma claim
Forty-six needles. Five malignant tumours. One mastectomy. Evelyn and Eddie Wilfling had no idea of the magnitude of what was ahead when Evelyn found a lump in her breast in September 2009.
There was something else the Wilflings didn’t expect: a substantial trauma claim benefit from Zurich after claiming on a barely-remembered trauma policy.
Like many sufferers, 45-year-old Evelyn’s breast cancer diagnosis came as a shock. “I was fit and well and had never had any health issues,” she says. “I’ve checked my breasts every month for the last 20 years.”
Finding the lump led to two mammograms, then a core biopsy, an ultrasound, an MRI, a lumpectomy, the removal of swollen lymph nodes, a mastectomy and then the diagnosis of a second area of invasive cancer. A suspected lung cancer was thankfully just that.
“It’s so frightening in hospital,” Evelyn says. “You’re in a state of shock but you have to listen and be proactive and keep asking questions.”
Off work for five weeks, Evelyn relied heavily on the support of Eddie – her husband of 23 years – and family. “My husband was an angel and did everything around the home,” she says. The final tally of cancerous lumps came to five; as the cancer hadn’t spread beyond the breast, Evelyn required no further treatment.
The Wilflings took out life insurance and trauma cover when they bought their first home seven years ago although Evelyn admits she’d forgotten about it. In February, when she was recovering, they submitted a trauma claim and a few weeks later, received a very welcome surprise in their bank account.
Evelyn recalls: “It was a Monday morning and I looked at the account and there was all this money there. I thought the bank had made a mistake but then we realised it was from Zurich. We screamed, we cried, we were so happy.”
Evelyn was covered by private health insurance but the couple still faced medical bills and out-of-pocket expenses. “It doesn’t change the situation but money does help a little bit,” Eddie notes. “The most important thing for us was how easy it was to claim.” The claim form was lodged on 15 February 2010 and the payment was in their account on 26th February 2010. There were no challenges.
It proves that trauma assessments and claim payments can be completed quickly if the reports from doctors and histopathology are made available at the time of claim.
Eddie now believes trauma cover is just as important – if not more so – than life insurance: “Life insurance is something you leave for your family and children. Trauma comes at the worst time but the right time.”
Things have changed since the dark days of September. Evelyn and Eddie relocated to a new home on the Peninsula and Evelyn has returned to work part-time as a project administrator in Melbourne. “I’m fine but there are parts of me that are still a bit fragile,” she admits. “I never thought about dying but negative thoughts do still run through your head. Kinesiology and hypnotherapy have helped a lot with that.”
The experience has also changed the couple’s relationship. “These days, we have a greater appreciation for the beautiful things around us: beach, sunshine, family friends and laughter,” Eddie says.
Evelyn is pragmatic about her situation: “I was lucky. One woman gets diagnosed with breast cancer every 43 minutes and there are women who have both their breasts off as well as chemotherapy and radiation.” The past months, however, have taught her two valuable lessons: “Don’t hesitate to take up trauma cover. And ladies – check your breasts.”
Recent $1.5million payout from Insureyou
A client our Insureyou.com.au recently received a payout of $1.5million for a Terminal Illness claim. The client had taken the policy out with Tower Life in August 2009 and never thought he would need it, but was recommended by a mortgage broker who was assiting him with his property finances. Four months later the cleint found out that he had bowel cancer and a claim was submitted.
'Claims are always a bitter-sweet process' the managing director Darren Joseph said. 'The client is suffering from an unexpected health issue, however it is great to be able to assist them financially, it takes a lot of burden off them and allows the focus on family and recovery' he said.
The funds allowed the client to clear some debts and sort out their finanical estate. 'Insurances such as Life insurance or Trauma insurance do not turn back the clock from a health perspective, but it enable choices for the family and avoid mortgagee sales' Darren said.
Insureyou.com.au is Corporate Authorised Representative (no. 308538) of Sentry Financial Services Pty Ltd. Australian Finanical Services License: 286786. You may view our Financial Services Guide here. We have not provided advice however if you would like advice an life insurance, or your personal insurance situation, please contact us on 1300 654 766.
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