Thirty year olds Ian and Henae both work for Livestock Improvement Corporation earning $80,000 each. They have big plans for the future, have saved hard for a house deposit and are keen to start a family. Henae has a family history of Cancer, so as soon as they were eligible, she and Ian took out Life Insurance at three times their salaries as well as Trauma Insurance with the Fonterra Welfare Fund. Both benefits being available with automatic acceptance if taken out within the initial 90-day window.
Sadly Henae was diagnosed with breast cancer 12 months later and underwent surgery and a 6-month period of intensive chemotherapy. While she was unable to work for a couple of months her chances of a full recovery are good, although there will always be a lingering concern around the future.
As a member of the Fonterra Welfare Fund Henae received a one-off lump-sum Trauma benefit [50% of her salary] upon the initial diagnosis of her Cancer condition which went a long way to removing the concerns around her income during her recovery and the stress of the entire experience.
“Taking out our insurances under the Fonterra Welfare Fund was the best thing we could have done,” says Henae, “with my family history I would have struggled to get insurance at all, and if I’d waited until after I was diagnosed it would have been too late. I’d hate to think where we would be if I’d waited and not been able to get cover when I needed it. You can’t put a price on the peace of mind if gives you.”
As it turns out, you can, because Henae’s Trauma Insurance cost as little as $16 a month, a 40% discount on open market rates assuming she could have secured it at all. With their risk covered and confidence in how they will face any future curves balls that may come their way, Ian and Henae are now full steam ahead working on their dreams of a home and family together.