You can’t help me. I’m still receiving chemotherapy, post-surgery!

Evan and Sue had been referred to us for life insurance advice by their accountant. They were a professional couple. Evan a university Professor, Sue a Partner in an international consulting firm. Both had emigrated to Australia from South Africa three years prior to our meeting.

Evan was receiving chemotherapy post-surgery and was certainly ineligible to apply for more life insurance in his current circumstances. My concern was to investigate, what pre-existing cover was in place, if any, which could be used to alleviate his concerns with being able to cancel existing debts against his Australian and South African assets, in the event of his untimely death.

To Evan’s certain knowledge, the South African policy documents which he presented only paid out in the event of his death. He had minimal income protection, (by choice!) and was concerned as to how he would adequately have enough money, even with Sue’s salary, to maintain their rather expensive lifestyle, until he could return to full-time employment.

I quickly discovered the solution. Evan’s South African policies included, in addition to death benefits, payment of an immediate capital sum, should he be diagnosed with what we in Australia call Trauma, or Critical illness, but what the South Africans refer to as “Dread Disease”! I was able to initiate a Claim with his South African insurer, in the full knowledge that the medical evidence would satisfy his policy definition. Within six weeks, Evan received a significant capital sum, tax free. Lifestyle was maintained!

Dread Disease cover was invented by the South Africans. It was a collaboration between a South African insurer and Dr Marius Bernard, whose brother Dr Christian Bernard pioneered heart transplant surgery. Initial policies were designed to fund the onerous costs associated with cancer and heart disease. 

Modern Trauma / Critical Illness policies have evolved into highly sophisticated benefit plans. They are medically benchmarked with clear policy definitions across more than forty specific illnesses. They are an essential component in any well-structured insurance plan.