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Dreamboard – Greg April 23, 2015

Posted by Meike Suggars in Dreamboard - Client Stories, Income Protection.
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DreamBoard - Suggars & Associates Client Stories

Meet Greg, aged 35 & on income protection claim since November 2014

I can’t recommend Suggars & Associates highly enough. I have had income protection insurance for over 10 years and I’d like to take this opportunity to tell my story.

A little over 6 months ago, I was in a serious motorcycle accident where I was fortunate enough to have only broken my leg. I needed two surgeries and am still in the process of rehabilitation to the point where I can get back to work. My accident could have been much worse and there is so much that I have had to deal with but my finances was not one of them. I hate to think how much additional stress I would have been under if I didn’t have my policy.The peace of mind that came along with the successful claim was more than worth the price I had paid for my policy over the last 10 years.

Not only this but the team at Suggars & Associates have walked me through everything that needed to happen and has continued to support me through the ongoing process.

Again, I would definitely suggest Suggars & Associates. The peace of mind is worth every penny and hopefully you never have to use it.

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Beware: no forms or medicals! September 20, 2012

Posted by Meike Suggars in Income Protection, Life Insurance, Personal Insurance.
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If you ever have the TV on during the day, you can’t miss the ads promoting life insurance and funeral plans with “guaranteed acceptance”. They show off that there are no long forms to complete or medical tests needed to get insurance with them. They make getting insurance with them easy – just call now and you can do it over the phone…

But did you know that if you don’t complete an application form with medical questions when putting insurance place, you get a blanket exclusion on all pre-existing conditions? And when you claim, that’s when you have to complete the long forms and get the medical tests done because that’s when YOU have to prove that whatever illness you’re claiming for was not a pre-existing condition.

So as well as dealing with the stress of illness, you’ve also got the stress of dealing with the insurance assessor. Easy? Um, no. And you may not actually get an insurance payout, even though you’ve been paying your premiums every month!

If you do the medical form at the time of application, the insurer decides if they’re willing to accept your application based on your medical history. If they do apply exclusions you will get notice in writing of exactly what those exclusions involve. Everything else is covered by your new insurance.

Beware: Bull roams freeHere’s an example. Mary has RSI in her right wrist. She applies for life insurance and income protection over the phone after seeing an ad on TV. There are no medical questions and no medical tests – as the ad said, she’s guaranteed to be accepted. Three years later, Mary injures her wrist playing sport and lodges an income protection claim because she can’t work. But this claim is rejected because Mary’s condition is complicated by her RSI and she already had the RSI at the time she applied for insurance

 If Mary had completed a long-form application with medical questions, her application probably would have been accepted with a right-wrist exclusion. That’s terrible you say?! Well, no not really – she’s knows exactly what she’s covered for (most things) and what she’s not so there’s no guess work or uncertainty. The whole point of insurance is to provide a safety net, which her policy would do even with the exclusion.

So, before you jump on the phone and get your “guaranteed-accepted” insurance policy with no medical questions, ask yourself if you really know what you’re getting and what you’ll be covered for.

Call your financial adviser or Suggars & Associates and we’ll help you get the right policy in place as easily as possible.

The advice in this article is of a general nature only and does not take your personal circumstances into account. You should seek financial advice before making any investment or financial decisions.

Image courtesy Noel Reynolds

Dreamboard – Jennifer August 23, 2012

Posted by Meike Suggars in Dreamboard - Client Stories, Income Protection, Personal Insurance.
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DreamBoard - Client Stories

Meet Jennifer, aged 51 & on Income Protection claim

First thought when you found out your claim was successful and you were going to get paid by your insurer?
I signed up in 1996 for income protection insurance.  My business was doing really well and I was 36 years of age, I had very good health, although I declared previous illnesses.  Within 6 weeks of signing up I went to Cairns to sell books and was bitten by a mozzy and came down with a RossRiver style virus.  I was extremely ill for several months and I was amazed at the ease that my claim was paid and that I was receiving money that allowed me to pay my bills, after I only had the insurance for six weeks!

I have had several claims since then, unfortunately in 2003 I had a series of bad falls where I ruptured a disk in my back, eventually in 2007 I had a spinal operation.  I have now been on claim since 2007 and although we have had a great deal of opposition from the insurance company to pay me regularly I can honestly say without Suggars and Assoc and their advice, I would not have been able to deal with the machinations of the insurance company on my own. 

Dreamboard - Jennifer's insurance claim story
What would have happened if you hadn’t been insured?
I hate to think what my life would have been like now if I hadn’t taken that insurance out when I was well and able person.   I wouldn’t have my business, I probably would not have been able to continue my rehabilitation which has been long, continual and ongoing.  When you are 36 you can-not imagine being in your 50’s and disabled.  It is true to say that you never know what is going to happen in the future but taking out and having the advice from Suggars and Associates has been a very important part of my recovery.  I will add that as I am now permanently disabled I will be receiving money from the insurance company until age 65.

How did working with Suggars & Associates help you during the claim process?
Insurance companies can be tricky,  they can make you jump through many hoops and can make your life hell at times.  Particularly when you are in pain or on drugs for the pain and perhaps thinking less than clearly.   It is very important to have people like Suggars and Associates who are there for you, they don’t work for the insurance company they work for you.  This is very important and when you are ill you need someone working for you.

Anything else to say?
Obviously over such a long period of time I have come to know Jeff and Meike very well.  Mostly Jeff has helped me but it is wonderful to see Meike Suggars coming into the business and offering the same excellent service and attention to detail that her Father has given me since 1996.  I also have my Superannuation and my Life Insurance organized through Suggars and Associates, with no problems at all.  Although I haven’t used my Life Insurance yet, nor do I plan to for some time, LOL!

Dreamboard – Jess August 6, 2012

Posted by Meike Suggars in Dreamboard - Client Stories, Income Protection.
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DreamBoard - Client Stories

Meet Jess, aged 26 & on Income Protection claim

First thought when you found out your claim was successful and you were going to get paid by your insurer?
I was shocked, and incredibly surprised seeing as though for one thing, I didn’t think it would be a viable claim in the first place and second, because it took SOOOOO long because the company was such a pain! I never thought we would get through it – but we did! 

What would have happened if you hadn’t been insured?
I wouldn’t have been able to take the time needed, as I am now, to do as much rehabilitation work as possible to get as well recovered as I can be, so I can one day get back to doing some kind of work.
Dreamboard - Jess, income protection claim
How did working with Suggars & Associates help you during the claim process?
Apart from being frustrated at the length of time that it took to go through – which had nothing to do with Suggars & Associates; the holdup was coming from the other end – it was so easy. There would be no way that I would have even thought to have claimed if it weren’t for Meike, and I certainly wouldn’t have had the patience that she did to see it through to the very end

Anything else to say?
Just a big THANK YOU!

Billion Dollar Legs August 11, 2010

Posted by Meike Suggars in Income Protection, Personal Insurance.
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Would Marlene Dietrich have had the same success without that same husky, sexy voice? What about Bruce Springsteen? Imagine he damaged his voice box and could no longer sing. What would Michael Flatley do if he injured his legs in a car accident and could no longer dance?

Suddenly these people would no longer be able to do what they do best – that which also funds their lifestyles and their futures. So, they have had the sense to take out insurance on what some would describe as their most valuable asset.

Flately’s legs are insured for $25 million. Springsteen followed Dietrich’s $1 million lead and insured his voice for $6 million. And after winning a Gillette competition for the “Legs of a Goddess” in 2006, Mariah Carey insured her pins for a cool $1billion. Yes, $1billion. If she injured her legs, any potential income from future endorsements or advertising deals could be lost so this insurance protects her financially.

Billion Dollar Legs

Photo courtesy of Massimo Barbieri

What about you? What would you do if you were injured or became ill and couldn’t do your job? How would you fund your lifestyle? Would you be compensated for the potential loss of future income?

While insuring body parts is perhaps not feasible for most of us, insuring your income is a very affordable option and protects your most valuable asset – your future income.

Income Protection insurance will pay you up to 75% of your insured pre-disability income if you can no longer work due to illness or injury for an extended period,* providing continued financial security. The last thing you want to worry about while recovering is how you’ll pay the school fees, or the mortgage – or the consequences if you can’t.

For advice on the best way to protect your financial security, talk to your insurance adviser or contact Suggars & Associates.

*Conditions apply to income protection insurance, and will vary from policy to policy. Your insurance adviser should discuss these with you so you understand your options.

You can read more about celebrities insuring their body parts here.

The advice in this article is of a general nature only and does not take your personal circumstances into account. You should seek financial advice before making any investment or financial decisions.

Ladies! Life Insurance protects your highest priorities March 29, 2010

Posted by Meike Suggars in Disability Insurance (TPD), Income Protection, Life Insurance, Personal Insurance, Trauma Insurance.
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A new survey conducted by SheSpot shows career is not the number one priority for Australian women. For 74% of women, that number one priority is family, followed in second place by financial security. In fact, 62% of women surveyed are worried about money and claim it’s the number one thing making them unhappy.

I wanted to know how many women have personal insurance in place to ensure their family and financial security is protected in the event of illness or injury?

The Suggars Family 1983

The Suggars Family 1983 - the way we were

As reported by RiskInfo, it’s been revealed in the recent Lifewise/NATSEM Underinsurance Report that one in 5 working age parents will die or become seriously ill or injured, however 95% of families don’t have adequate insurance in place to protect them from the potential financial hardship that often follows such circumstances.

Are you one of them?

If you are, it’s easy for you to take control now while you’re still fit and healthy by taking out personal insurance. 

  • Income protection pays you 75% of your income if you’re unable to work for an extended period due to sickness or injury. Learn more about income protection
  • Trauma insurance pays out a lump sum if you’re diagnosed with one of over 40 illnesses including cancer, heart disease and stroke. Some policies even cover serious pregnancy complications.
  • Total & permanent disability (TPD) insurance is the only insurance to cover permanent disablement caused by mental disorder (including stress) and muscular skeletal injuries.
  • Death cover is often called Term insurance. This pays out in the event of death, and is just as important for mums as it is for dads as it can be used to pay for a nanny/house keeper who’ll iron the shirts, make sure the kids sports gear is packed on Tuesdays and that homework is done on time.

These different types of insurance can be combined to provide you with the cover you need, based on your personal circumstances. So don’t gamble with your family’s future. Contact Suggars & Associates to find out what insurance options are available to you.

The advice in this article is of a general nature only and does not take your personal circumstances into account. You should seek financial advice before making any investment or financial decisions.

What happens to your income if you can’t work? March 9, 2010

Posted by Meike Suggars in Income Protection, Personal Insurance.
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This is a question that most people don’t ask themselves until it’s too late – they’ve been diagnosed with a traumatic illness or have had a serious accident that means they’re off work for an extended period.

The obvious answer is if you can’t work you lose your income. The bills start to mount up, and so does the stress – instead of focusing on getting better, you’re worrying about how to pay the mortgage repayments, or pay the school fees.

But there is an alternative.

Income Protection Insurance allows you to protect your income from the risk of illness or injury. After being off work for a specified waiting period, you can make a claim and the insurance company will pay a monthly benefit equivalent to 75% of your income – in many cases, until you’re able to go back to work.

There are a number of different income insurance policies available from a variety of insurance companies, and different policies suit different people depending on their occupation and employment status. The amount of cover you need will depend on your financial obligations and there are many optional extras. Talking to an insurance adviser with access to a variety of products in the market, such as Suggars & Associates, will help you understand your needs and find the best policy available to suit your circumstances.

Like any personal insurance, the best time to take out income protection is while you’re fit and healthy to avoid paying loadings that may apply if you’ve already been diagnosed with a medical condition. Once you have your income protection in place, it remains in force for as long as you continue to pay your premiums – so no matter what happens to your health in the future, you’re protected from losing your income.

The moral of the story? Don’t wait until it’s too late! Protect your income and your lifestyle, and that of your loved ones, by making sure you have adequate income protection insurance. Contact Suggars & Associates to make an appointment and get covered.

The advice in this article is of a general nature only and does not take your personal circumstances into account. You should seek financial advice before making any investment or financial decisions.