We were first introduced to Life insurance through Lea Life Brokers when we built our first home in 2002. The prospect of one of us carrying on alone with a mortgage made this insurance a necessity (a no brainer!). What we hadn't heard about, let alone considered at the time was Trauma Cover. Once the significance of this cover was fully understood by us (and in light of the statistics of illness and accident related trauma), this also was considered to not be just a "nice to have" but indeed also a necessity.
As the years past, and household projects and other budgetary constrictions took hold (as they do), we decided that we should perhaps drop the Trauma cover but still retain the Life cover as a cut back compromise. Fortunately for us at this time, we were due for our annual visit and insurance health check from the man we have come to know as Insurance Paul (AKA the Sugar Ray Leonard of the Insurance community!). After discussing our plan with Paul, we were brought back to earth in terms of what this cover actually means and decided to continue with it coupled to our Life insurance.
Approximately another year then passed, and in 2008 my wife was diagnosed with Breast cancer. To complicate matters we were also expecting our first child! In the midst of all of the fear, worry and heartache the arrival of our newborn was bittersweet. My wife underwent immediate treatment and many subsequent months of recovery as all folks combating this disease must do.
From the time of the initial confirmation of the diagnosis, Paul swung into action on our behalf and processed our claim. The lump sum payment not only cleared our mortgage but also provided additional funds left over to assist us through this difficult period of our lives. Another small twist to our story, is that when my wife took maternity leave, we had planned to cancel her Income Protection insurance (through our bank) as we thought that it would no longer be needed. Luckily we were told that this must be advised to the insurer in writing - which luckily we didn't get around to doing - whew!
Everybody's circumstances are different, however we are all subject to the randomness of disease and injury. Without the insurance portfolio advised & provided to us by Paul, we would have had to endure the ongoing & constant financial pressures of life - whilst battling with this terrible disease. For this we are forever indebted to Paul for his objective, practical and ultimately sound advice.
From our experience, these are the types of insurances that we would gladly continue to pay for - if for only in the hope that we never have to use them!
Phil & Carla Kerridge 23/01/2013.