Life Cover Claim Story

Karen was a 38-year-old office manager, working for a manufacturing company. Two years earlier, she and her husband had divorced, leaving her with a mortgage and sole responsibility for the care of her 14-year-old son, Steven.

Now a single parent, Karen became more aware of her financial vulnerability. At the suggestion of a friend who had been in similar circumstances, she consulted a financial adviser.

The adviser carefully talked her through her various options and devised a plan to financially protect her and son Steven, if something ever happened to her. Steven had always worked hard and done well at school, and she was particularly concerned to make sure that he would be able to afford to go on to university, if he wanted

 She bought some life cover and trauma policy for $500,000. She also purchased income protection policy, in case she ever became temporarily unable to work.

Less than two years later, Karen went home from work early one afternoon with a bad headache and the feeling she might be getting flu. Later that day she lost consciousness and was rushed to hospital. She had suffered a brain hemorrhage, and died that evening without regaining consciousness.

Under her life policy, Karen had nominated Steven as her sole beneficiary. He received the $500,000 through a trust fund set up by the fund's solicitors.

Steven is now working hard for his HSC, with plans to obtain a university degree to set himself up for the future ... thanks to his mother's foresight to arrange life cover for his future lifestyle protection. 

* Claim story courtesy of Asteron Life Solutions