Personal Accident & Illness

A carpenter fractured their wrist in a fall and was unable to work. Because they had started a new role since their current policy’s inception, limited earnings information was available to assess their income. An accountant could not complete the carpenter’s tax returns to provide an updated earnings statement until the end of the financial year.

The Insured was under financial pressure whilst receiving no income, so the insurer agreed to a weekly benefit rate after reviewing their bank statements and a letter from the accountant. The Insured claimed a Weekly Injury Benefit of $1,250 per week and received a lump sum due to their injuries.

The provision of the claims examples are for illustrative purposes only and should not be seen as an indication as to how any potential claim will be assessed or accepted. Cover for a claim will depend on the specific circumstances around the loss and would be subject to the terms and conditions of the policy concerned.

As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording. The information contained in this email is general only.  Coverage for claims on the policy will be determined by the insurer, not BizCover for Brokers, and will depend on the specific facts and circumstances involved.