Trauma Cover – A Case Study – November 2012
Nathan Tiberi – KSR Wealth Management
Michael is 41 year old Carpenter, and is married with 2 children. He has been running his own business for the past 15 years. In July 2012, Michael was diagnosed with Testicular Cancer. Michael was required to undergo Chemotherapy the following week, and has been unable to return to work since the diagnosis due to treatment.
Michael and his family have had a lot of emotional stress in their lives since Michael’s diagnosis, however due to the fact that Michael had Income Protection & Trauma Insurance, they have not had financial stress to deal with also. Michael’s Trauma Insurance policy paid him $130,000 on diagnosis of the condition. This allowed Michael to receive a payment before he had commenced his Chemotherapy treatment, which he used to pay down some of his mortgage and put the rest of the money in the bank for a ‘rainy day’.