Saving the family-owned business.

Neil was 57 when lung cancer stopped him in his tracks.  A printer since he took over the family-owned business at the age of 31, he’d never smoked so the diagnosis was something of a surprise. Neville recently purchased a state of the art printer and took on a large business loan – so when he suddenly found himself in hospital faced with removal of a lung and the knowledge that his working life was effectively over, the future of the business seemed in jeopardy.

Then Neil and his wife Pam remembered that their business had Total and Permanent Disability (TPD) with ‘own occupation’ cover, a back-up plan put in place several years ago. Payment from the TPD claim enabled the business to entirely repay the equipment loan. With the loan repaid, Neil and Pam’s business had the income necessary to hire a full-time replacement printer.