Andrew Porteous was made redundant shortly before being diagnosed with a rare form of terminal oesophageal cancer. Porteous had life insurance through his job and was not aware that the insurance would lapse once he was made redundant. Porteous is now in a legal battle with AMP who are refusing to pay out the $450,000 policy. Andrew's lawyer Barrister Sandra Grant says:
"I think that the contract - the way it's drafted - does cover Andrew's situation, which is that he has a terminal illness, while he was employed for the purposes of the policy,...he just didn't know that he had a terminal illness, he didn't find that out until afterwards."
I do not have a copy of the policy wording on which to make any sort of judgment about the merits of the arguments advanced by Mr Porteous' Barrister. It strikes me that this situation underlines the value of advice. The client had cover, but perhaps lacked good advice on how to use that cover. A good adviser may have been able to spot the potential claim and lodge it while the cover was in force. This is why advice, as distinct from product, is one of my key themes for 2018.
Whatever the outcome, however, my thoughts are with the family of Mr Porteous.
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