Case Studies

Murray and Lois are a couple in their 40’s. They have two children at primary school. Murray is employed by a local firm as a Project Manager and he is the main income earner and Lois is a stay at home mum.

Murray suffered a major heart attack and was lucky he was working with a fellow worker who knew CPR who revived him.

How was I able to help this family?

Immediately Murray had access to the best medical care because he had Private Medical Cover.

After a 4 week wait I was able to pay Murray $5,200 a month until he returned to work.

Because he suffered a serious trauma, I was also able to pay him a lump sum of $100,000. He used some of this money to bring his parents to NZ from England. The remaining funds were used to pay off a lump sum on his mortgage to reduce the financial pressures and enable him not to have to return to work in his stressful role.

John and Sarah are a couple in their 50’s.  They have two children at University.

John is an Office Manager and Sarah is an office worker.

John was involved in a serious car accident and died in hospital three days later.

How was I able to help this family?

Immediately John had access to the best medical care.

John’s life insurance provided the family with $950,000, which enabled Sarah to pay off their liabilities ($250,000).  Legal and funeral costs of $15,000 were paid for and a lump sum of $600,000 was available to invest which represented John’s salary for the next 10 years.  There was an additional amount of $85,000 for an emergency fund which Sarah used some of this to purchase a new car, pay the children’s University fees and enabled her and the children to go on holiday a few months later so they could begin to plan their new life.

Elizabeth is a nurse in her 30’s.  She is single and lives alone in her own home.

She was diagnosed with ovarian cancer.

How was I able to help Elizabeth?

Immediately Elizabeth had access to the best medical care due to her workplace cover.

I was able to give Elizabeth $82,000 to help her recover from her trauma.  Because she had 3 months accumulated sick and annual leave this was enough to get her through until returning to work so she did not have to use any of her funds to replace her income.  She was able to do a bit of retail therapy, went on holiday, and paid off debt in her mortgage.  She also made a sizeable donation to the Cancer Society.

Peter and Judith work together as Real Estate Agents and work as a team.  They are in their early 30’s with no children.

Judith fell over while skiing and hurt her back.  Her doctor said she was not

able to work and needed complete rest to enable a full recovery.

How was I able to help Judith?

Judith had mortgage cover so after her wait period of six weeks I was able to pay her $2,800 every month until she was able to return to work.

Because she suffered an accident and because I had her on an ACC Cover Plus Extra, she also received her ACC weekly entitlement, and this meant she was able to be on claim 100% until she returned to work $100%.

Because there are no offsets on mortgage cover, Judith was getting her Mortgage Cover every month and her weekly ACC entitlement in full.

George and Mary are business partners in their late 40’s.  They jointly own a Motel Complex together.

Mary was diagnosed with multiple sclerosis and her future ability to work in the business in the same capacity is not likely.

How was I able to help myself?

Both George and Mary had a Business Succession Plan in place, which meant that in the event of a trauma, as is the case here, then $100,000 will be paid out to the business, to ensure its future productivity, so the business will not fail while replacement labour is found and a chance to up skill the new person in their business.

The plan also includes life cover so in the event of either couple prematurely dying then $500,000 would be made available to the other partner to enable the surviving partner is able to repay the business debt and enable funds are available  to ensure 100% ownership of the business remains with the surviving partner.

Because they have a legally binding Buy Sell Agreement in place, then this will ensure the right amount of funds, from the right source, pass to the right person at the right time.