Some years ago Robert Ford and his wife, Nerrida committed to a strategy to make smart decisions with their money. They agreed to target financial independence, privately educate their two children and visit overseas family every other year. As part of this initial strategy and our ongoing meetings we talk about insurances, including the increasing cost and its value (particularly when you get to the half century in life experience), to make sure the settings remain optimally structured and relevant.
Today Rob says the discipline of his annual GP health evaluation saved his life. In February this year Rob’s routine GP check uncovered prostate cancer and his surgeon decided it was best to act immediately and undergo the latest Robotic assisted radical Prostatectomy. The outlay for the surgery was in the order of five figures and was not covered by Medicare nor his top Hospital Private Health Insurance. Only 6 months earlier Rob had stepped away from a successful 25+ year executive career in banking to set up his own business, so there was no safety net.
Anxiety levels were high with the uncertainty of the diagnosis, but financially the strategy provided for them right when they needed it. We quickly facilitated a Trauma insurance claim which paid six figures and importantly enabled Rob and Nerrida to be clear of all money worries. The Trauma proceeds fully paid for the surgery and enabled Rob to take the time he needed to properly recover without having to worry about a rushed return to work.
10 months on Rob has made a strong recovery and is sharing the benefit of his experience as a regular speaker with the Prostate Cancer Foundation whilst building Victorian Leaders, a professional development and networking business which provides knowledge, networks and capital for growth companies.