Quote Originally Posted by wizard View Post
I have been a Jims franchisee for over 11 years, and have paid income protection insurance for that period, through the Jims broker. I have recently had a preliminary claim for time off due to double knee replacement surgery rejected . I say preliminary as I wanted confirmation of what I excess etc. for planning purposes before I committed to the surgery. My bewilderment at the rejection, maybe naivety on my part was due to this being a pre existing condition so not covered. I have, as a result, asked for some specific cover confirmation on particular illnesses before I commit and continue the policy, which is renewed every 12 months. Getting them to commit is almost impossible, so betwixt and between as to what to do. Be interested in any comments.
Not knowing your financial status nor is it any of my business, 1 option is to draw on you Super (if you have any) there is a an exhaustive process but for personal emergencies/ financial hardship they will generally approve it.

Other option is to draw on your mortgage if you have a line of credit available. Again, don’t know your status.

I have to agree with Chris B, these insurance policies are over priced and they will always under deliver and screw you. I have heard of many examples like yours in all types of industries.

Give the income protection the arse, and the money you pay use it to put back in your Super which is 100% deductible and will benefit you in the long run.