Good insurance advisers secure big payouts for clients


Insurance can often turn a terrible situation into something more tolerable. However, when an insurer declines a claim, then it tends to magnify the unpleasantness and compound an already stressful situation. This is when a good insurance adviser is worth their weight in gold.

Recently, two of our insurance advisers went to bat for their clients and won them sizeable payouts. Neither of the client claimants had purchased their insurance via their financial adviser. One client had purchased an inferior policy via their bank while the other client had purchased via a different firm.

The bank declined the insurance claim arguing that the policy did not cover the situation. The financial adviser who provided investment advice to the client, got his in-house insurance expert onto the case. She reviewed the policy wording, assessed the nature of the client claim then negotiated extensively with the bank-based insurer to overturn the initial ruling and have the claim paid in full. The outcome – a very happy client who now sees the value in using a quality insurance adviser to obtain the right policy in the first place who will then negotiate on their behalf at claim time to ensure the claim is paid in full.

The second situation was where the client had used another insurance adviser to purchase the initial insurance policy. When the client got sick, the other insurance adviser stated there was no claim to be made as the policy did not cover those sorts of situations. When the financial adviser learnt of the situation, she realised that the client had been misinformed. She went in to bat for the client and after many weeks of negotiation with the insurance company, she managed to have the client's situation recognised as a valid claim and so a payout was made. The outcome – an ecstatic client who has now moved all insurance policies to the financial adviser and has encouraged many friends to undertake a full insurance review with us.

Feel free to get in touch to check whether your current insurance policies are meeting your needs.