Trauma Insurance

When you suffer a serious illness, the impact on your life is likely to be enormous. The financial impact can also be devastating if you’re not adequately prepared for it by having some form of trauma or critical illness cover.

Trauma insurance provides you with a lump sum payment if you suffer an insured major medical trauma. The actual events covered vary between insurers, but some of the most common ones include:

  • Neurological conditions — dementia, motor neurone disease, Multiple Sclerosis, muscular dystrophy, paralysis, Parkinson’s disease and stroke.
  • Heart conditions.
  • Blood disorders — aplastic anaemia, medically-acquired HIV, occupationally-acquired HIV.
  • Cancers and benign brain tumours.
  • Organ disorders — like chronic kidney/liver/lung failure, coma, loss of hearing/speech, major head trauma, severe burns.

Each of the above insured events is usually medically defined within the policy, and the definition must be satisfied to be eligible for a benefit payment. For example, it is not sufficient to simply be diagnosed as suffering from cancer, the type and severity of the cancer must meet the definition within the policy.

What this means to you

The payment of a lump sum from trauma insurance is designed to help you and your family obtain the financial support you need to get through a major illness without the financial upheaval. This money can help you:

  • pay for the best medical care, both here or overseas.
  • access the full range of rehabilitation services.
  • pay for someone to come and help you around the house.
  • change your lifestyle if required (eg reducing your working hours or taking an extended holiday).
  • help with mortgage repayments.

Insurance policies will often vary in their features and benefits, so you should work with us to choose a policy that suits your needs and your budget.

What are the chances?

Cardiovascular disease (CVD) is the leading cause of death in Australia, with 45,600 deaths attributed to CVD in Australia in 2011. Cardiovascular disease kills one Australian every 12 minutes.

Disclaimer: Please note that this information is of a general nature only and have been provided without taking account of your objectives, financial situation or needs. Because of this, you should consider whether the information is appropriate in light of your particular objectives, financial situation and needs.