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Aucklander gets $25000 trauma cash compensation

When Narendra Patel visited Global Financial Services Limited (GFSL) Director Ajay Kumar last month for the annual review of his insurance policy, he casually mentioned that he had a stent fixed during an angiogram performed last year and that he went through serious trauma.

“You should claim compensation under your policy,” Mr Kumar suggested.

“That was 18 months ago. How can I claim now?” Mr Patel asked.

“That is our responsibility. We will apply to the insurance company (AIA) if we have the relevant medical documents and certificates,” Mr Kumar said.

Mr Patel provided the requisite documents and less than a fortnight later, he was stunned to learn that the insurance company had agreed to pay $25,000 trauma cover.

“It was a pleasant experience. I have always been impressed by the quality of service provided by GFSL but this was beyond imagination. Mr Kumar and his team have excelled themselves,” Mr Patel said, after receiving the confirmation letter at the offices of GFSL on May 7, 2014.

GFSL has thousands of customers making it the largest Indian-owned and operated mortgage and insurance broker company in New Zealand. Since its establishment in 1999, the Company has obtained more than $2.5 billion as mortgage loans for its clients and written insurance policies valued in excess of $2.5 billion.

The ‘$5 billion Company’ has won several categories of the Indian Newslink Indian Business Awards since they were launched in 2008, including the coveted, ‘Supreme Business of the Year’ Award in 2010.

Right cover

According to Mr Kumar, insurance cover is not only for the benefit of the members of a family or beneficiaries mentioned in a policy but also for those insured.

“Many people are unaware of the facilities that exist within an insurance policy. At GFSL, we take care of clients on a continuous basis. Our task does not end with the issue of a policy. In fact that is the beginning of our relationship with clients,” Mr Kumar said.

He said that people keen on insurance must understand in the first instance ‘Why, Who and What’ and then satisfy themselves of the best policy suited to their budget and family.

“While many people say that they need insurance, they may not be fully aware of the nuances involved. They should understand why they need an insurance policy, who are they trying to protect and what are the products that are available in the market. At GFSL, we provide an obligation-free initial consultation,” he said.

Honest assessment

As done in the case of customers who seek mortgage loans, Mr Kumar and his insurance team assess the needs of customers on an individual, case-by-case basis, types of insurance cover suitable, ability to meet premium payments and other obligations. More importantly, they enable customers to choose the insurance company and guide them through the process.

Among the policies available are Life Insurance and Terminal Illness, Total and Permanent Disability, Trauma or Serious Illness, Income Protection, Mortgage Protection, Medical Insurance and Guaranteed Money Back (100% Cash Back Policy).

“We live in an uncertain world in which accidents, illness, insecurity of job, stress and trauma occur and recur. As risks increase in our life, insurance is the only way for a majority of people to secure the future of their loved ones. I have always recommended to my customers to have adequate insurance cover to financially protect their home, business and family. While death is certain for all human beings, there is also constant risk to their property and to the equity that may occur in the event of loss of life and/or income. People are also prone to illnesses that may require hospitalisation, consultation with specialists, expensive scans surgery and prolonged treatment or recovery,” he said.

Top Advisor Award

The Company’s pursuit of excellence with a penchant for true customer service has also been acknowledged and applauded by the icons in the insurance industry.

AIA Insurance New Zealand honoured Mr Kumar with the ‘Top Advisor’ category of the Company’s ‘Aim High Adviser Adviser Awards 2013’ for the fourth year in succession at a function held at Auckland Hilton recently.

AIA Chief Executive Wayne Besant said that his Company was pleased to deal with GFSL, which is known for its professionalism and high standards of service.

“We are impressed with the operations of this Company and the services that it renders to its clients. We enjoy our association with Mr Kumar and his team,” he said.

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