Case Studies

Tom and Julie’s Story


  • Tom and Julie are married and both had reasonable levels of insurances under advice
  • Tom contacted Equitem to cancel most of their insurances and only retain a lower level of life insurance


  • Equitem arranged a review meeting to discuss the serious risks doing so would have to their family and financial well being
  • Equitem advised that given they were in their 50’s they should have a full medical before making any decisions
  • At this point in time, Tom mentioned that he had had a health scare about 18 months earlier, he’d had surgery for a cancer and had fully recovered
  • Tom said he didn’t think to advise us as he didn’t need ongoing treatments or care and was only off work for a few weeks, he therefore thought it wouldn’t be something he could claim
  • Equitem immediately researched the terms of the policy and liaised with the insurer to progress a potential claim


  • After several months of Equitem managing the claims process for the client, it was eventually agreed by the insurer that Tom was in fact entitled to a claim
  • The client received a lump sum tax free payment of over $700,000, and was refunded 18 months of insurance premiums with Equitem life insurance

John’s Story


  • John is 32 years of age and had limited income protection insurances in place
  • He was unaware of both the limitations of the policies, and that he was significantly underinsured overall, until he met with Equitem
  • John was hesitant as he was unmarried and had no dependent children, however he had debt and was unaware of the limited government benefits available and the impact his inability to work would have on his family, particularly his parents


  • After performing a full review of his risks and finances, it was recommended that he increase his income protection, as well as take out life insurance, total and permanent disability and trauma insurance to provide a significantly better level of protection
  • He agreed to proceed with the recommended levels of cover and completed an application form and debit authority
  • The documents were provided to the insurer to commence the underwriting process, however the underwriter required additional information that Equitem tried to source from John for 2 weeks but were unable to reach him, which was cause for concern
  • Eventually John’s parents contacted Equitem to tell us that John had been in a serious accident and was in intensive care in a serious life threatening situation


  • Equitem contacted the insurance company immediately to advise them and to commence the claim process for his existing cover
  • Given John had already completed the application form and signed the banking debit authority for his increased cover, there was a clear intention to pay and therefore the insurer was required to honour the ‘interim cover’ on the policy, even though it had not yet completed the underwriting process
  • Equitem assisted the family with the entire claims procedure, which was further complicated by the fact that John was in a coma and paralysed
  • Johns insurer immediately commenced paying a monthly benefit to replace his income, as well as a lump sum payment based on his interim cover
  • John survived and is continuing to make progress, though he’ll likely ever be able to work again, he has the certainty of a guaranteed income for the rest of his otherwise working life – something government benefits simply cannot achieve