AFRM CLAIM STORIES: AFRM client makes two claims after reading our article on Income Protection
After reading our article on the 6 reasons to have Income Protection cover, an AFRM client contacted his adviser and was able to make two claims.
The client, who is an accountant in his late 50s, first took out his Income Protection policy in 2001. His policy has a 90 day waiting period so he thought he was unable to claim on two separate occasions when he was in hospital. However, after reading our article in the AFRM newsletter he was prompted to ask the question.
In 2009 he broke his lower leg and was in hospital for one week. In 2011 he underwent back surgery with a stay of three weeks in hospital.
Although he was not eligible for a total disability or partial disability claim for either issue, he was eligible for one of his ancillary benefits as part of his cover. He could claim for two nursing care benefits, which entitled him to 1/30th of his cover for each day in excess of three days which he spent in hospital.
The client then received nearly $6000 in payments.
If you are unsure about whether you could make a claim, please contact your adviser.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.