Why the Financial and Legal Advice Benefit Matters for Parents
A terminal illness diagnosis is overwhelming, and managing a large insurance payout adds another layer of complexity. For parents, ensuring those funds are used wisely to protect your children and partner is critical.
The Financial and Legal Advice Benefit, available with Chubb Life policies, reimburses up to $2,500 for professional financial or legal advice after a Life Cover or Terminal Illness Benefit claim, helping you make informed decisions without added financial stress.
How the Financial and Legal Advice Benefit Works
This benefit is designed to bring clarity and support when you need it most:
- Reimbursement for Expert Advice: Covers up to $2,500 for consultations with a Financial Markets Authority-licensed financial planner or legal professional, within 12 months of a Life Cover or Terminal Illness Benefit claim.
- Simple Process: Submit receipts for the advice within 12 months, and Chubb Life processes the reimbursement.
- No Premium Burden: If your policy is pre-paid (e.g., via FLNZ), you face no ongoing costs, making the benefit straightforward to access.
Imagine You: Picture yourself, a 58-year-old parent of two in Wellington, with a $500,000 Life Cover policy through Chubb Life (premiums paid by FLNZ). After a terminal illness diagnosis, you receive a $500,000 Terminal Illness Benefit payout.
To plan for your whānau’s future, you consult a licensed financial planner, incurring $2,000 in fees. Within six months, you submit receipts to Chubb Life, and they reimburse the full $2,000. This support helps you allocate the payout wisely – perhaps setting up a trust for your children or securing your partner’s retirement – without dipping into the funds.
Why Choose the Financial and Legal Advice Benefit with IFO POMA?
- Clarity in Crisis: Get expert advice to manage large payouts, ensuring your whānau’s long-term security.
- Cost Relief: Up to $2,500 reimbursed reduces the financial burden of professional guidance.
- Seamless Support: The straightforward reimbursement process aligns with our commitment to simplicity and empathy.
- Whānau-First Guidance: Our brokers work with you to understand your needs, ensuring your policy includes benefits like this to protect what matters most.
Secure Your Whānau’s Future Today
Life’s challenges shouldn’t compromise your family’s stability. With Chubb Life’s Financial and Legal Advice Benefit and IFO Peace of Mind Advice, you can navigate tough times with confidence. Contact our brokers for a free, no-pressure chat or quote to explore how this benefit can support your whānau.
Click here to connect with our advisers: https://peaceofmindadvice.co.nz/contact-us/