When a Self Employed Builders World Collapses Around Him!
The Problem: At 42 years old and a self employed builder, Brian had a large mortgage and had just put himself in further debt by buying a very expensive car.
He had the horrible realisation that as a single builder business, if he couldn’t work, he was totally unable to cover his commitments and would put his whole business at risk. This worried him greatly.
The Process: We conducted our inevitable fact finding process that allows us to get to know the inside story of the business, closely identify the clients concerns and ensure these concerns are the real problem.
We analysed the situation, consulted with his circle of professional advisors and provided an optimal solution that closely addressed the problems and also improved another area that Brian had not seen.
The solution: We put in place covers to ensure that Brian’s income stream would continue and all fixed business overheads would be paid.
By structuring the covers in a specific way we also achieved a saving in ACC premiums. Before we met he was paying $183 per month for ACC. We added the badly needed personal and business covers for an additional $31 per month.
Brian was naturally delighted!
The unforseen happens!
The policy went into force in May and in July he had an accident and was off work for 5 months. Because we had done the right job:
He received $ 8,000 from the personal cover.
He received $4,266 from the business cover.
He received $ 4,608 from ACC
A total of $16,874 that saved his home and his business!
This was more than twice as much as he would have received with the previous ACC arrangement.