Client Success Stories of 2020: Part 2

As a financial planning business, you may be surprised to learn that our goal for our clients is more than simply financial success. Our goal is to ensure every single one of our clients is cared for and supported on their journey.

2020 was a tough year for many Australians. A year filled with too few good news stories. But it has helped us to reflect on the things we value most in life, things we often take for granted. Sometimes, looking at the silver linings in such chaotic times is the best way to move forward to bigger and brighter days.

We understand that success looks different to everyone which is why we wanted to share a range of success stories, some of our most memorable of 2020 that we are particularly proud to be a part of – our good news stories.

Everyone deserves their dream retirement

Earlier this year, I met with a single woman in her 60s who was nearing retirement and extremely anxious about her income.

The first thing I did was ask her about her story and her lifestyle and I think she took comfort in the fact that someone was truly listening and concerned for her future.

We worked with her situation to put a strategy into place which would guarantee her enough income throughout her entire retirement. I also helped her to apply for the Age Pension so she could start accessing some benefits that helped her secure more income.

She is now on her retirement and every time we meet; she is in high spirits and relaxed and excited about the plans she has in retirement without having to worry about her finances.

Adviser: Kristy Coulin

Income Protection Claim supporting your business and your family

When my client started his family, he decided to get income protection cover to ensure his family would always be financially supported.

After working as a tradesman and running his own business for many years, his shoulder became injured due to overuse and repetitive movement. He ended up needing an operation to repair it and while it wasn’t a serious injury, it meant that he would need to take a couple months of work to recover.

At this time, I was able to help my client to make a claim against his income protection policy. He started receiving payments straight away so that his family was supported, and his business could continue to operate efficiently while he recovered.

He received the full benefit at first fully supporting him and his family. As his shoulder began to heal, he was able to slowly return to work while the insurance policy topped up his income. This meant that Steve could return to work at a safe pace and recover properly, whilst supporting both his business and his family. 

My client has since completely recovered from the operation and returned to work. Luckily with his income protection and the quick claim, he did not suffer any financial losses or have to worry about supporting his family. 

Claims Manager: Jackie Munday

How a small TPD insurance change saved thousands

My client already had his personal insurances in place but came to me to review the policies and make sure he was getting the best value from his policies.

After reviewing his TPD policy, I found that his cover was based on an ‘any’ occupation definition. As John worked in a specialist filed in his industry, I suggested that he should make the change to an ‘own’ occupation definition.

I explained to my client that under his current cover, he would need to be totally and permanently disabled to the point of not being able to work in any role that he is reasonably qualified to fulfill. However, changing to an ‘own’ occupation definition would be more specific and maintains that you cannot work in your exact current position.

Due to the specialist nature of his position, my client agreed this would suit his circumstances better and made the change.

Six months later, my client was in an unfortunate car accident and was left with severe swelling on his brain. The first diagnosis left a very broad outcome ranging from a full recovery to death.

Before long, the doctors were able to determine that at the least, my client had lost the use of one eye and one ear. That was enough to determine that my client would unfortunately, never return to his chosen career.

Based on his new TPD insurance cover and the change to an ‘own’ occupation TPD definition, my client received a payment of $75,000. This allowed his wife to organise the very best medical requirements including home care and allowed them to pay medical fees without having to worry about struggling to meet their regular financial commitments.

My client was eventually able to return to a new occupation after he took the time to rest, recover and re-train at his own pace with financial support for him and his family.

Adviser: Daniel Brown

We feel privileged to have been able to help so many of our wonderful clients create success, and at the same time deliver much needed security in their lives.

If you’re looking to achieve your own version of success, we can help you establish a plan which is not only simple, but also easy to implement – a plan that could help you to reach your goals sooner.

Book an initial consultation with our highly experienced team of specialist financial advisers. We have offices located in The Junction (NFPG), Erina (CCFPG) and Sydney CBD (SWA).