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Pam's story
A typically busy Kiwi mum and business owner, Pam's life changed overnight. Read how Life Insurance and Income Protection made a difference.
Illness wasn't part of Pam's business plan
Pam had always wanted to own her own business and in 1989 she went out on her own to fulfill her dream. Within a year her company had grown so much she had to take on another person. "It was a very busy time," she remembers, "I had gone back to university after having the boys (who were both under four at the time) and I was doing a PhD and teaching at Massey in Wellington for a few days a year as well as working full time in my business."
Then in November 2003 Pam went to see her doctor about some pain she was getting in her chest. She was surprised to find out that it was chronic pancreatitis, a serious, but non-fatal disease. The pain meant she had to give up her studies and teaching.
The right plans in place
Luckily, years earlier Pam had gotten in touch with a life insurance adviser and taken out income protection insurance. "At the time I had two young children and my husband was staying home to look after them," she says, "When you've got children, a mortgage, a business and all sorts of other things, you have to think, well, if something did happen to me, things would really go down the tube! The income protection ended up being our only source of income. The whole family was living on it."
"To the person who has no life or income protection insurance, I would suggest you get it."
In May 2009 Pam returned to the doctor for a check-up only to find that her pancreatitis had evolved to metastatic pancreatic cancer. Naturally, it came as a huge shock. But she was pleased she and her husband could take care of the big things – and the little things too, like pocket money. More importantly, she was also able to secure her family’s financial future. "The boys are going off to university next year. I've pre-paid their accommodation and fees so their new life will be opening up for them as their old life closes down."
"Having the income protection has been a godsend," Pam says frankly. "If my family and I were having to manage on an invalid's benefit, I would not even have enough money to travel to Palmerston North for the chemotherapy. To the person who has no life insurance or income protection insurance, I would suggest you get it. Even if you've two income earners, it's still important. If we didn't have it, we would have had to sell our house in order to have something to live on. Everything would have been so different."
Pam fought bravely before succumbing to her illness in 2009.
Asteron Life would like to sincerely thank Pam and her family for allowing us to share their story.
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The information in this article has been compiled from various sources and is intended to be factual information only. Full details of policy terms and conditions are available from Asteron Life Limited or your financial adviser. For advice on product suitability, please contact your financial adviser. While we take reasonable steps to ensure that the information contained in this article is accurate and up-to-date, it is subject to change without notice. Asteron Life Limited and its related companies does/do not accept any responsibility or liability in connection with your use of or reliance on this article.
