By the time she was forty, Karen had fulfilled her dream of starting up her own accounting practice.
She had always been a fit and healthy person, so Karen knew how crucial her health was to financial security – especially now she was self-employed. So she took out a trauma policy for a sum insured at $150,000.
Five years later Karen was diagnosed with malignant breast cancer. After coming to terms with the initial shock of the diagnosis, Karen had to think how her illness would affect her, her family, and her business.
Karen’s medical condition satisfied the definition of cancer under her Trauma policy. The $150,000 benefit paid shortly after her diagnosis, gave Karen the opportunity to spend time with her family considering the future, rather than worrying about work.
Being paid on diagnosis of the condition also gave Karen the financial capacity to consider alternative treatments and concentrate on her recovery.
Although the names have been changed, this is based on an actual claim.
Source: Asteron Life LTD dated May 2010