When disaster strikes – will your insurance cover you?


No one plans for a debilitating sickness or injury and the potential loss of future income. While health sits at the top of our list of priorities the ability to alleviate the outcome through insurance should not be overlooked.

‌While our client would prefer to have maintained 100% full health the complete financial assistance arising from his comprehensive insurance arrangements enable


Name(s): Dr Christopher

Financial Goal: Christopher is a medical specialist and we completed a full financial review over all areas of his financial life including debt restructure, asset realignment including the development of his personal balance sheet; and a full review of all his insurance arrangements.

Salary: $350,000 per annum

Assets: $4million Liabilities: $1million


Christopher suffered an unexpected and debilitating health issue that has permanently affected his employment resulting in loss of future income. With a young family he faced potential financial catastrophe had he not established a full range of insurance arrangements.


Locumsgroup had undertaken a significant insurance review as a part of the client’s financial planning services and ensured that adequate income protection, trauma insurance and total permanent disability were in place to cover the client in these rare circumstances.


The client claimed successfully under his income protection which provides an index linked monthly income through to age 65; in addition both the total and permanent disability policy and the trauma insurance both responded and the client was able to clear all borrowings. This enabled Christopher to maintain his standard of living in spite of the illness and lack of current employment.


When I established my insurance arrangements there were times when I questioned the cost. While in the main the premiums were tax deductible they were still an expense that had to be paid by me. However I am so grateful that I accepted your advice and now have no financial worries.

Disclaimer: General advice only