Trauma Insurance
Trauma insurance pays you a lump sum benefit to you on the diagnosis of a specified non-pre-existing illness or injury, generally including heart attack, stroke, cancer, and paraplegia. Trauma insurance can be taken as a stand alone policy, or attached to a life insurance policy. This insurance was created when it was realised that medical advances were resulting in patients increasingly surviving major health problems, but that the financial cost of survival was prohibitively high for patients (e.g. medical costs, medicine, time off work, rehabilitation etc). In other words, patients didn't lose their lives... they lost their life savings instead. Trauma insurance should be held outside of the superannuation environment. Trauma insurance is designed give you (the life insured) financial peace of mind, when recovering from a listed traumatic illness, in turn enabling you to focus on recovering as quickly as possible.
Trauma insurance is also referred to as:
- Trauma Cover
- Critical Illness Cover
- Recovery Money
After working with you, we can tailor a specific level of Trauma insurance cover to suit your specific needs and budget. We can also apply for Trauma insurance to help you manage, if one of your children is struck down with a critical illness.