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A recent client conversation

Posted on May 12th, 2010 by adam

I was speaking to one of my clients today who is unable to work as she is undergoing chemotherapy for breast cancer. Naturally this is an emotionally very stressful time not to say physically draining.

Thankfully my client accepted my advice and implemented some Income Protection last year. She is currently receiving a monthly benefit which is helping to ease the financial strain of not being able to work, especially as she is self employed.

She told me about another patient she met who was in a similar situation to herself  however this lady was stressing about how she was going to meet the mortgage repayments as she is not currently receiving an income and never implemented any Income Protection or Trauma Cover. She told my client that she and her husband had discussed implementing cover for herself but had never got around to it.

The harsh truth is that we all put off doing things that we know we ought to do now. Don’t let insuring your ability to earn an income, probably the greatest asset that any of us has, be one of those things. It’s not hard to do and premiums can be tax deductible.

Trauma Cover is also a vital form of cover. It pays out a lump sum for certain specific critical illnesses such as most forms of malignant cancer, heart attack or stroke. Whereas Income Protection is assessed on the life insured’s ability to work, Trauma Cover will pay a lump sum if the life insured meets a critical illness defintion as detailed in the relevant insurance contract, regardless of their ability to work. The cover pays nominated sufficient lump sum which can help pay off any outstanding medical bills and allow the life insured time to recuperate until they feel they are ready to go back to work.


AJM Financial Planning is now on the web!

Posted on May 1st, 2010 by adam

Welcome to the new website! I’m really excited about our new blog and look forward to adding some informative information about personal and business insurance!

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