Trauma Insurance

1. A helping hand when you need it most

No one likes to imagine a tragic event happening to themselves or their loved ones. But trauma is an unfortunate reality for many Australians.

• Conditions such as cancer or stroke, and tragic events like major head injury and the loss of limbs, can befall any of us and alter our lives forever.
• The expenses associated with such trauma can cause additional problems that compound the situation. While there is not a great deal that can be done to prevent the initial emotional and physical shock, a Trauma Recovery Insurance Plan can ensure you and your family are financially secure.

2. Underinsured and under-prepared

As a nation, it has been well documented that Australians are not well covered. In fact, only 22% of us have life insurance.

• When it comes to trauma insurance, the statistics are worse, with only 2% of Australians actually owning cover.
• So, why is it that Australians seem unprepared for the possible financial burden of trauma?

The answer is multi-faceted: some people miscalculate their insurance coverage and others tend to view it as a luxury.

3. The right protection for you

Trauma Recovery insurance provides a lump sum in the event you suffer from a defined traumatic event, such as cancer, heart attack or major head injury.

• It is designed specifically to help cover the expenses associated with such events. It can assist in paying for expensive recovery and rehabilitation costs, pay to refit your home with wheelchair access, enable your partner or family member to reduce their work hours to care for you or can be used to provide an ongoing income stream for you in the future.
• Thanks to modern medicine there is no doubt that people are living much longer, even upon diagnosis of a ‘life threatening illness' or after having been involved in a traumatic accident.
• More than 80% of heart attack sufferers will survive and 50% of people diagnosed with cancer are expected to live longer than 5 years.
• But, while patients and victims are clearly benefiting from the advancements in medical technology, it is often their financial situation that suffers irreparably.

The facts

Definition
Pays a lump sum in the event of a diagnosis insurable condition, e.g. cancer, stroke, heart attack, major head injuries.
Trauma insurance (also known as critical illness insurance) provides a cash lump sum in the event of contracting a specified disease or trauma. The number of conditions covered (benefits) varies widely, cheaper policies often offering less benefits.
It is likely that one of the following illnesses will affect you or your family. Typically trauma policies will pay benefits in the case of some or all of the following critical illnesses:

You need trauma cover to

• To repay debt
• Single people wishing to maintain financial independence.
• A homemaker who would usually perform the duties of a housekeeper or nanny.
• Those who may require cash support for their business while they take on the role of carer.
• Those who would like to be able to choose private medical care rather than remain on a waiting list.