Pasquale is a Pharmacist by profession and was experiencing a downturn in business during the settling in period post business relocation. Due to budget constraints, he almost cancelled his AIA Australia Crisis Recovery Insurance Policy six weeks before the incident. Instead his Adviser from JPH Group (specialists in the Pharmaceutical industry) advised him to reduce his Policy from $750k to $500k to make it more affordable.
At the time of his Heart Attack, he owned a pharmacy in Coburg and was working long hours to support his wife and two young children. He drove home after the gym one afternoon and asked his wife to pick up their children from school as he wasn’t feeling well. He collapsed just as his wife was about to leave the house. His wife dialled 000 and performed CPR on him as he slipped into a coma.
As a Sole Trader with no Power of Attorney, it was the help of his Adviser and AIA Australia that made it possible for his wife to access their bank accounts and keep the business and house expenses paid while Pasquale remained in a coma. If he hadn’t been covered by his Policy, it’s likely that the business would have been sold as a ‘fire sale’ at a fraction of its value and the family would have been considerably worse off altogether. Since this event, Pasquale has turned his life around. His health is improving by the day. He sold the business at the right price at his own volition and now runs a pharmaceutical industry specialist book keeping business from home so he can see more of his family and enjoy a better work/life balance.