A cancer story with good outcomes

How astute decisions pre-diagnosis provided financial resillience when it mattered.

In the beginning

Karen was a long-term client when in her early 60s she received notice of a positive result in a routine National Bowel Cancer Screening test.  Although Karen was originally not that concerned with these findings, her life changed when subsequently diagnosed with Rectal Cancer.  With a background in operations and project management, Karen’s most important project became managing her own health.  Having followed Clae’s advice to implement trauma insurance and income protection cover several years earlier, Karen contacted the CKM team to instigate an insurance claim.

Testing the CKM process

Fortunately, Karen’s insurance plan had not just been implemented but we had consistently reviewed it over the years to make sure it remained appropriate to her current situation. When we heard from Karen, we were confident in a good outcome because her policies were with a quality insurer which enjoys an excellent reputation for claims management and payouts.

Kristen (CKM Business Manager) immediately instigated a trauma claim and an income protection claim with Karen’s insurer.  Karen provided copies of her CT scans, specialist reports, test results and claim forms, and the claim went to the insurer for assessment.  Within days Kristen had a welcome answer on the claim - the full amount of trauma insurance Karen held would be paid as a lump sum immediately and an ongoing monthly income protection benefit would commence following the waiting period.  When Kristen told Karen of the assessor’s decision, they cried together, and Karen voiced that she felt “like I have won the lottery”.

The Outcomes

The insurance pay outs, along with other favourable outcomes arising from financial decisions Karen made following Clae’s advice, allowed her to concentrate on her medical issues free from worrying about her financial situation.  This meant that she was able to focus completely on interacting with her medical providers and getting her treatments. Happily, it also meant that she could afford the best of care.  

Now in remission, Karen moved seamlessly on her 65th birthday from the substitute salary provided by her income protection insurance into a retirement income stream from her investments.  Whilst most of her recovery period has been focused on her health, Karen has admirably devoted herself to assisting others.  She has created a podcast “Love, Laughter and Loo Time” that was rated Number 5 on the Top 10 Cancer Podcasts to listen to in 2024.  You can listen to this podcast on your preferred streaming application. Episode 3 features a discussion with Clae and Kristen about the financial side of her experience. She is also now a Community Ambassador for Cancer Council NSW sharing her experience and important message on doing the bowel screening test.

A survivor’s mindset

Our bond with Karen as her financial adviser intensified during this cancer journey. We’ve admired how she has bravely tackled this challenge head on. It’s our observation that being willing to openly share with others what she’s been going through has positively contributed to a favourable outcome. Karen has long been involved in the soccer community and Gary Cole, former Socceroo, said “I really enjoyed the Episode where you talked with your financial planners around insurance etc. Thank God you had that in place.” 

In her own words

“No one plans to get cancer, but by the time I got my diagnosis, my finances were in good shape. Knowing that my insurance policies had me covered financially, meant that I could focus on my medical issues and challenges. Looking back, all the work that I’d done with CKM to get ready for retirement paid off enormously, given my unexpected medical issues.  In many ways, their financial care was nearly as important as my medical care to get me to where I am today.”

The story of Karen’s cancer journey, including insights from Clae and Kristen from CKM Advisers can be heard in her podcast “Love, Laughter and Loo Time”, episode 3 “Insuring is Ensuring Peace of Mind.” and she has now been appointed a Community Ambassador for Cancer Council NSW.