Julie's long, hard road to recovery

On Christmas Eve, 2013, Julie drove out of her local supermarket car park thinking she was heading home to her husband Zach and teenage son James. But life had other plans. The next thing Julie remembers is waking up in intensive care. She had been involved in a head on collision on a 100km per hour stretch of road that probably should have killed her.

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Trauma Claim

Alison & John became clients of AFRM in 2009.  Alison is 44 and is an owner/equity Partner in a Recruitment Firm.  She is married to John aged 52 who is a property developer. They were in the process of adopting their first child when they became clients.

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Income Protection

Mark & Jessica are married with two boys, Luke (5) & Hudson (2).  Mark worked as a Project Manager on $160,000 while Jessica works part-time as a bookkeeper earning $45,000 .  They both felt as though they were in a good financial position with less than $140,000 outstanding on the mortgage and good paying jobs.

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Business Succession

Paul was the senior partner and a major shareholder with three others in an expanding accounting practice with a total equity value of $2.8M and business loans and overdraft of $0.8M.  The facilities are the subject of Personal Guarantees by the partners.  Paul and his wife Alison had both previously been married and between them were raising and caring for 4 dependant children.  They had some personal insurance to protect the outstanding mortgage/debt and to provide some funds for the family in the event of Paul’s demise. 

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Estate Planning

Appropriate analysis would have identified Estate Planning concerns.  Recommendations would have been made to the client for the ownership structure of the existing life insurance cover to be changed to the trustees of his SMSF.  His sons would still own the business instead are employees.

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Medical Professional Claim

“I worked as a dentist for 41 years in the Newcastle area. I have been a client of AFRM for over 20 years, since its inception.

I have always had personal income protection, business overhead and personal life insurance cover with AFRM all that time. I have always had annual reviews with them.

At age 60, five years ago, I wasn’t certain of how much longer I may continue to work. I was prepared to work beyond 65 and maybe up to 70 years of age.

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