As Financial Planners we are consistently addressing the need for Life, Disability, and Illness Insurance into your broader Financial Plan. We will often be in a position to facilitate and advise on appropriate levels of personal insurance cover, however one less understood ‘value add’ of a trusted adviser is the support and assistance provided whilst navigating the insurance claims process.
It is often misunderstood that you are ‘on your own’ when claiming your personal insurance benefits, this is regardless of whether the adviser established the policy, or the policy is funded elsewhere, a common example being within a superannuation fund.
In addition to this, the claims process can be daunting and highly variable, which can also be dependent on both the superannuation fund or insurer. A Financial Planner can provide invaluable claims assistance, effectively project managing the claims process on your behalf. The experience of an adviser is critical, often leading to better claim outcomes and peace of mind for the claimant.
Should an insurance claim become complex or taxing, the immediate port of call can be a lawyer, this action can be premature and costly when compared to approaching a licensed Financial Planner. However, in saying this there are certain circumstances where legal advice is required, but often this is the exception rather than the rule.
As Financial Planners, we’ll often have an intimate understanding of the insurance company and claims processes sitting behind the policy. Lodging, or even considering if you’re eligible to lodge a claim is emotionally charged and confronting, with the help of an adviser you can better understand your eligibility to claim, whilst we also assist streamlining the claims process, making it as stress-free as possible. What we know and see, is that 100% of legitimate personal insurance claims are paid by insurers, but that extra helping hand and guidance can often make all the difference.
If you or anyone close to you is dealing with, or attempting to navigate the Personal Insurance claims process, give the team at Steve May a call and start a conversation today.
You need to consider with your financial planner (or adviser), your objectives, financial situation and your particular needs prior to making an investment decision. Sensibly Pty Ltd and its authorised representatives (or credit representatives) do not accept liability for any errors or omissions of information supplied on this website
Nick Shanley, Steve May, Luke Styles and Shanley Financial Planning T/A Steve May Financial Services are Authorised Representatives / Corporate Authorised Representative of Sensibly Pty Ltd, AFSL 533923. Please refer to our website at www.stevemayfs.com.au to reference our Financial Services Guides.
