AFRM CLAIM STORIES: 49 year old receives over $1m due to back condition

Posted by Bethany Shaw on 22 November 2016

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claim storiesAFRM helps client receive over $1 million following a degenerative back condition. 

Client situation

Our client is a 49 year old male who was working as a Construction Foreman.

What happened for the client to make a claim?
The client had a degenerative back condition, leading to multiple back operations and then permanent chronic pain, balance and numbness issues.

What did AFRM do and what was the result?

We submitted a claim on his Total & Permanent Disability (TPD) policies, which were successful. This paid him $800,000 which enabled him to be bought out from his shareholding in his business. Another $200,000 was paid to the business to replace lost income.

The client has also been on an Income Protection claim for the last six years, firstly on a partial basis, then on a total basis as his condition worsened. He will continue to receive over $70,000 per annum (indexed) to age 65.

What are the lessons learnt?

Although TPD can be a hard claim to qualify for, it provides vital protection for chronic pain issues that other lump sum covers do not. 

If you would like to speak to one of our advisers please contact us. 

Please note, this information has been prepared by Australian Financial Risk Management Pty Ltd (AFRM) ABN 21 001 696 868. AFRM hold an Australian Financial Services License (AFSL) 237186. The information is for general purposes only and has been prepared without taking account of your objectives, financial situation or needs. AFRM recommends that you seek professional advice before acting on any information contained herein.