A lovely longstanding client of ours was at a friends Barbq in Australia when an dreadful incident took place. This would change her life in the coming months.
An explosion at a barbq is the last thing you would expect but this is exactly what our client had to bear. It caused serious burns and landed her in hospital for a month. There was a little but welcome comfort in her insurances with us. At least her home loan repayments were taken care of.
Mortgage Repayment Cover
Kicked in after the wait period, not offset by ACC. Meaning both can be claimed upon at the same time. Yes issues even while you are in Australia is covered when you are back home. The wait period and the payment term has an impact on the premium. If you carry a lot of savings all the time, you can reduce the premiums by extending the wait period. The wait period is the period of time when you would like the insurance company to step in after you are unable to work.
Trauma Cover
Client had the foresight to take us up on putting trauma cover in place. This meant a lump sum payment to help with setting things up after you might incur impact to your mobility. Client had also taken trauma buy back, which means after a period of time she is able to get the lump sum cover back in place, without medical underwriting.
