Case Study 2

Marie and Ben, full time professionals, were expecting their first child and were in the market for their first home.  The only insurance they currently had was on their car and contents with an online provider, and they wanted to get some advice around life insurance with their new circumstances. 

 Mandy reviewed their current financial situation and discussed their life and financial goals.  She quickly came up with a solution that not only protected the family if Marie or Ben died, but equally made sure that their family were financially stable if either of them were to become seriously ill or injured.  As the main income earner with future high earnings, Ben was recommended to take income protection with the ability to increase the benefit in the future.  

Mandy took into account the fact that Marie was planning on being a stay at home mother for some time, so even though there would be no income to lose if she was to become seriously unwell, it was likely that Ben would have to stop work to care for her and the baby, therefore placing a large financial strain on the family.  So Mandy recommended that Marie take trauma cover, a lump sum pay-out for specified conditions that would get them through a time like this.

 During Ben and Marie’s house search, Mandy helped by checking the homes that they were bidding on were insurable.  Once they won their bid, Mandy ensured they calculated the rebuild value of their home, and made sure that they had the right insurance product in place, due to the large amount of retaining walls on their property.

 Since the arrival of the baby, Mandy has reviewed Marie and Ben’s policy and added the new baby onto it, so if he was to become seriously ill, Marie and Ben would have some financial relief to manage with the stressful time.

Marie and Ben are happy to have the peace of mind, that if either of them were to become seriously ill or die, the family would be taken care of financially.  They also know that they can contact Mandy if their circumstances change, or if they need any help with making a claim.

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