Sam – A Personal Insurance Experience and Health Update

I have always had a strong view that a good Financial Adviser must have his/her own finances in order, if they are going to advise others in managing their financial matters.

Happily, I have followed this rule.

Last month my hairdresser suggested that, “You should have a mole on your head checked”. I did, and this week the results came back as Clark Level 4 Melanoma.  My prognosis appears good – I will have the area around the mole removed soon and my Doctors and I will consider the next steps, if any, we should take – all in all there should be limited impact on my life, but we will take the advice of the experts.

Obviously, we have limited control over our health (although I should have worn a hat and sunscreen more often than I did).  But we can control other aspects of our life that ensure we have the right structures and products in place when things outside of our control occur along the way.

Jo and I married 12 ½ years ago, and we started our little family (which is now a large family) and so I followed the advice I would provide to any young family.  One aspect of that advice was to take out the appropriate insurances to protect Jo and the Children should something happen to my health.  This included Critical Illness cover (also known as Trauma cover) as well as the other Personal Insurances – Life Cover, TPD cover, Income Protection all covering different heath events and providing different benefits.

This Melanoma is covered under my Critical Illness Policy and while my claim is currently being processed, I have been informed that it will be paid as a lump sum in full.

These funds will provide 3 key benefits to myself and my family;

  1. I can access any appropriate medicine, medical advice and treatment that may otherwise have been cost prohibitive
  2. While this health issue is fairly manageable at this stage, Jo and I will be able to focus on my health, knowing our finances are strong – providing peace of mind for us all
  3. One of Jo and my main goals has been to create our ideal family home – a goal that we have been working toward for the past 4+ years. This goal can now be brought forward – providing a new positive focus for the family now and into the future.

I am not planning to take any additional time off at this stage – however Jo and I may have a little holiday later in the year.  In any event Glen and I have worked to ensure the Practice has the appropriate resources to continue to service our clients to the highest levels.

In the meantime, Glen and I continue to assist clients and their families to Protect, Manage and Build Wealth and we look forward to continuing this journey with you.

 

Sam Adams

 

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