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For the second episode of the Expat Investor podcast, Tom Pewtress is joined by Senior Financial Adviser Max Gerstein to discuss the important role Expat Insurance plays within wider financial planning.
As well as the regular review of the past month’s market news, Max tells the story of a successful critical insurance claim that almost went so horribly wrong.
Over the last 12 months both Tom and Max have witnessed scenarios where insurance has been needed for expats, however it has not been in place. Fortunately this time there was a positive outcome.
Max's Clients Story
Being of the belief that he and his wife were too young to need it, and with a policy in place through work, Max’s client was initially reluctant to take Critical Insurance Cover when he raised the subject initially. However, after further discussions which highlighted the limitations of their existing policy he agreed to set up a new policy.
A few years later as part of an annual review, the client mentioned his wife had been diagnosed with Thyroid cancer, but having discussed with friends and family, they had reached the conclusion that their insurance policy wouldn’t cover them.
At this point Max suggested they at least try, and after some resistance, the client agreed to give it a go. Fast forward a few months and a successful claim has resulted in Max's clients receiving a cheque for $350,000; a life changing amount which gave them some breathing space while she underwent treatment and has allowed them to purchase a home in Australia without the need for a mortgage or additional borrowing.
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Max Gerstein is an award-winning financial adviser with a proven track record of guiding international clients toward long-term financial security and growth. With extensive experience across major financial hubs including Geneva and Dubai, Max brings a deep understanding of global wealth strategies and cross-border financial planning.
With a career built on delivering the highest standards of financial advice and a passion for developing others to do the same, Tom Pewtress is a senior leader at Skybound Wealth Management. Known for his deep technical expertise and hands-on experience across global markets, Tom ensures both clients and advisers are equipped with the knowledge, tools, and strategies to succeed, no matter how complex the situation.
This was recorded on the 28th February 2024 and all information was correct at the time of recording. As always this podcast is for educational purposes only and is not a personal recommendation. If you’re unsure what’s right for you, you should seek advice. Past performance isn’t a guide to the future, and investments rise and fall in value so you could get back less that you invest.
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