Life, Trauma, Income Protection and TPD Insurance are there to cover you for dire events. So when you need to make a claim you need it approved NOW – and paid as quickly as possible. Unfortunately, that’s not always what happens. ASIC recently found that some life companies were rejecting as many as 1 claim in every 3. That’s quite an alarming statistic, but bear in mid it’s not all life companies, only some.
ASIC also found that the “claim declined” rate was about 50% higher where the claimant went direct to the insurer than if they went through an adviser. In other words, you have a much greater chance of success with an adviser.
Why is that?
Professional advisers have the technical expertise to help you get the right cover in the first place
We can also guide you to a Life company that has a better claim payment culture and track record
And just as important, we can help you make the claim
Remember, if you or your dependants are making a claim, then there’s going to be plenty of stress as it is. It’s great to have someone else take that additional burden and stress away, and also to get the result you’re after – your claim accepted and paid.
If you would like to discuss your insurance policies with your adviser, please contact our office on (07) 5574 0667.
Wahlstrom Financial Services Pty Ltd, ABN 43 078 015 988, is a Corporate Authorised Representative of Millennium3 Financial Services Pty Ltd ABN 61 094 529 987 an Australian Financial Services Licensee number 244252. Millennium3 Financial Services Pty Ltd and Wahlstrom Financial Services Pty Ltd are not responsible for the advice given regarding lending. This information (including taxation) is general in nature and does not consider your individual circumstances or needs. Do not act until you seek professional advice and consider a Product Disclosure Statement. The views and opinions expressed within this letter are those of the author and do not necessarily reflect those of Millennium3 Financial Services Pty Ltd.