Trauma insurance provides a lump sum paid if you suffer a trauma event from which you may recover.
Many people purchase life insurance to protect their families should they die prematurely. However, there is a greater risk of being unable to work for three months or more through a serious illness or accident.
Trauma insurance pays a lump sum if you suffer from one of the covered medical conditions and accident related events such as heart attack, cancer, stroke, angioplasty, brain tumour, lost of limbs (mini TPD), organs failure, etc.
A LENGTHY DISABILITY CAN BE DEVASTATING, AND IS MORE COMMON THAN ONE MIGHT THINK.
Did you know
- One in three people under the age of 65 are disabled for three months or more
- Breast cancer diagnosis has more than doubled in the last 20 years
- Almost one in five people who experience a stroke are under the age of 55
Trauma insurance is not a replacement for income protection or private health insurance.
Trauma insurance works well to complement your income protection cover as income protection only covers up to 80% of your income. Trauma insurance will provide a lump sum on the gap of your income. You and your family can use the lump sum to:
- pay off debts
- fund the costs of rehabilitation
- pay for specialists or medical bills
- make modifications to your home
- pay off your mortgage
- use as an investment to provide a yearly income
or even take a holiday to re-assess your life
UPON ASSESSMENT, WE WILL EVALUATE YOUR NEEDS AND YOUR PERSONAL SITUATION
Trauma insurance is often more expensive than other forms of life insurance as there are high incident of claims especially in relation to cancer and cardiovascular disease. It needs to be personalised for your situation.
We will consider your age, gender, health status and medical history and recommend the level of coverage that fits your needs and your budget best.
Jane worked part time Thursday to Saturday as a registered nurse. Bailey, her three year old son was in childcare on Thursdays and Fridays and she stayed at home looking after him Mondays to Wednesdays, with her partner looking after him on Saturdays.
At 43, she was diagnosed with breast cancer, undergoing surgery and six months of chemotherapy. During this period, she was unable to work or look after Bailey.
Jane had taken out trauma insurance after seeing a friend suffer financially in similar circumstances and was able to claim a lump sum to compensate her for the loss of income and pay for the additional childcare and household assistance she required while recovering from her illness.