Don't forget to claim on your insurance!
It’s easy to miss an opportunity to claim on your Medical, Life, Trauma, or Income Protection insurances. One of the most valuable questions we ask clients during a review meeting is “have you or your family had any medical issues since we last spoke?”. This can reveal missed claim opportunities that we then help with and the sums of money can be surprising!
We’ve listed below some of the more common missed personal insurance claims that occur. Clients tell us that one of our most valuable services is claims support, plus we don’t charge for this unlike some financial advice firms! If you are ever unsure about a potential claim, then please contact us at support@nautilus.net.nz and we’ll check for you. Even when there is only a slim chance of approval, we’re happy to give it a go! If your insurances don’t include the sorts of benefits discussed below, then book an appointment to talk with us about products that do.
Sick partner or child payments
When a partner or child gets seriously ill it’s common to take time off to support them through treatment, and help care for them during recovery. This time away from work can create a financial strain if your earnings are reduced. Many adult Trauma (serious illness) insurance products include a “free child Trauma” benefit that can pay up to $50,000 if your child is diagnosed with a serious illness. In addition, some Income Protection insurance products can include a “dependent caregiver” benefit that can replace some of your income for a period of time while you care for others.
Accommodation costs and public hospital stays
Good medical insurance products often cover accommodation costs within limits for you and a support person, and in some cases this can extend to medical treatment overseas. Also, some products will start paying a daily allowance after a certain number of nights in a public hospital that can run into thousands of dollars.
Specialist costs when you don’t have a specialists option
If you can’t afford to have a Specialist and Test option on your medical cover, you can sometimes still claim for these types of costs . Comprehensive medical products normally cover specialist and test costs for significant time periods prior to, or after, an approved surgical or hospital claim. Also, the best medical products can include a “major diagnostics benefit” pays for many common tests such as a CT scan, PET scan, echocardiogram, angiogram, colonoscopy, or hysteroscopy.
Specific injury payments
Some income production products include a free “specific injury” benefit, while this is an option on others. Even if you don’t have time off work, many common injuries such as fractures or amputations can result in an immediate payment up to 3 months of your monthly sum insured.