We know that insurance is something people hope they never have to use. But when it’s needed, the speed and compassion with which claims are handled can make all the difference. Over a recent six-week period, we had four claims come through, and the outcomes highlight just how important good cover and strong claims support really are.
Our recent claims snapshot:
- Average age of claimant: 39 (youngest 31, oldest 47)
- Type of cover: Trauma × 3, Income Protection × 1
- Causes: Cancer × 2, Heart Attack × 1, Mental Health × 1
- Average Trauma sum insured: $283,000
- Average claims acceptance time: 12 days*
- Industry average acceptance time: 1.5 months (MoneySmart)
*Time calculated from the day we were notified through to payment by the insurer. Trauma claims only, as income protection benefits are ongoing.
These numbers tell a real story. Trauma and Income Protection claims are often linked to serious health events that can disrupt both income and family life. Having cover in place meant that each of these clients had immediate financial support at a time when they needed to focus on recovery.
It’s worth noting that the average acceptance time of 12 days is well below the industry average. That reflects both efficient insurer processes and the importance of having a team to guide clients through what can otherwise feel like an overwhelming process. In this case, we’d like to acknowledge the retail claims teams at TAL and ClearView for handling matters quickly and compassionately.
Insurance isn’t just about the numbers on the policy schedule. It’s about making sure that, if the worst happens, people can get help without delay. These recent claims are a timely reminder of why having the right cover – and the right support – really matters.
