23 Jun 2013 | Case study

Successful Claim

In November 2012 we received a referral to speak with an accountant from Melbourne. Following our usual system procedures our admin staff contacted this gentleman who was quite concerned about one of his Accounting practice clients who we shall call Jim*.

Jim had been diagnosed with Throat Cancer and had been advised that his Income Protection had been cancelled hence no claim would be available.

On further investigation we discovered that Jim had been working for Company X up to early July 2012 and that they had provided an Income Protection, Life & TPD Policy to their employee’s through the company superannuation scheme.

Jim left the company’s employ early July 2012 and 2 weeks later was given the diagnosis of Throat Cancer. As Jim had left his employment with Company X he contacted the Corporate Adviser who dealt with Company X’s Corporate Insurance and was told no claim was available as it had been cancelled.

Adrian Read of Stream Financial took on this case as it did not seem to add up. He dealt direct with Asteron Insurance, after lodging a Third Party Authority and a Transfer of Servicing Rights.

The medications that Jim was taking made getting accurate information extremely difficult as at times he was very heavily medicated for pain. Jim’s quality of life was suffering tremendously. He was unable to work as he underwent chemotherapy and radiation treatment. The recovery from these treatments was slow and there is no guarantee that these treatments will clear him of cancer. This was made doubly difficult as Jim was living on a disability pension which did not go anywhere near his daily living & treatment expenses.

Compiling the documentation required to support this claim also proved to be a slow process. Reports from GP’s, Oncologists, therapists and more. Jim’s friend who was caring for him at the time needed to assist in this area. She was working to support the two of them and was frequently up half the night nursing Jim as the chemo fought his cancer.

There were times when there was a gap in the timeline which needed intricate follow up to ensure we had the correct dates when Jim left his employment, when he was first diagnosed and when he was certified as disabled. A team effort from the guys at Stream Financial ensured that all these bumps were ironed out to the satisfaction of Asteron Insurance.

On 27th March 2013, after hours of phone calls, many reports and a huge amount of work compiling all the appropriate information, Adrian received a call from Asteron Insurance. Asteron has recognised the claim for Jim against the Corporate Income Protection Policy, which they subsequently back dated to July 2012. This claim will be ongoing as per the terms of the original policy.

To date Jim has received $29,774 in gross claim and each month receives a further $3,750 gross claim. The difference this is making to his comfort, daily living and therapy procedures is immeasurable.

That was a joyous day in the Stream Financial Office as this case has touched everyone here.

Sometimes doing the right thing is worth more than simply doing ‘your job’.


*Name has been changed for privacy

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