Mike

I met with Alan Jones in 1979, he suggested to me that I should consider taking life insurance for both my wife and myself.

As in my opinion, I had reasonable Superannuation, therefore I decided to take $50,000 on my wife’s life and $30,000 on mine.

In 1983 Alan followed me up to review my situation and suggested that I increase the life covers.  It was decided to increase my wife’s cover to $100,000 and mine to $50,000 as my Superannuation was still strong.

1986 saw tragedy strike; my wife was diagnosed with cardiomyopathy and her only hope for survival was a heart transplant. Unfortunately, replacement hearts were not readily available at that time, and she died 28th March 1987 aged 38, I was 50, and was left with 3 children to raise, Graham 13, Russell 11 and Hayley 8.

My job as dealer development manager with AGC required me to visit areas from Cairns to Lismore, which meant I would be away one to four nights per week. As a result of this I had to employ a lady to cook Monday to Friday nights, in addition I had to pay extra for child minding on the nights that I was away. In addition I employed another lady to clean the house and do the washing and ironing for me as it was impossible to maintain all of these duties, while working fulltime and also having time to spend with the children.

When each child started university I bought them a second hand car and gave them a weekly allowance, I also paid their university fees & costs, so that when they started work they did not have any debts to take care of.  University fees were much cheaper then and I would envisage a much higher cover would be required now.

I feel I will always be in debt to Alan for his wise counselling and would recommend him to anyone who needs financial counselling.

Mike
April 2011