How your insurance actually works for you when you need to claim

Over the last two years we have seen our clients insurance policies working actively for them.  While we are thrilled that the insurance claims have been paid to our clients – proving that good insurance cover works – we hope that no more of our clients become ill and need to claim on their insurance cover.

When Moneyworks helps our clients to put in place insurance cover, our goal is to make sure that a claim will be paid if required.  Consequently we can be a pain, getting our clients to declare anything that they can think of that might affect the insurer issuing their policies.  We would rather that you know from the start that something is going to be excluded, instead of having a claim turned down because of non-disclosure.

Insurance policy wordings change over time, so if you think you are in a situation to make a claim, it is important that you read the relevant wording for your policy.  Recently, our insurance research provider has developed a database of all the wording for insurance companies back over a number of years.  So we may be able to help you with finding the right wording. 

But it is always important to check the exact wording, so we ask the insurer for the wording, at the start of the claim process.

As your financial planner, it is our job to help you with the insurance claims on any policies that we have put in place for you.  If you are a membership fee client, we will assist you with any claims on any policies you have in place, whether we organised them for you or not. 

There is no cost to you for us helping you with your claim, as we get paid an annual ‘renewal commission’ from your insurer, to cover the costs in that situation.

If you find yourself in a situation of having to claim on your policy, you are likely to be unwell, which means that the stress of putting in the claim on your insurance is one that you can do without – we are very happy to be able to help you out at that time.

To give you some idea of how the insurance policies of our clients have worked recently, here are some details on claims we have organised for our clients over the last 2 years.

Trauma insurance payment

Multiple Sclerosis - Female  Late 50’s

Thyroid Cancer - Female Late 40’s

Breast Cancer - Female Mid 50’s

Intensive Care - Benefit Female 50

Parkinsons Disease - Male Late 50’s

Stroke - Female Late 50’s

Testicular Cancer - Male Early 50’s

Breast Cancer – Female Mid 60’s

Income protection insurance payments

Parkinsons Disease - Male Late 50’s

Mental Health Illness - Female Early 50’s

Intensive Care - Female 50

Car Accident – Male Early 60’s