What is Trauma Insurance?
Trauma Insurance, like Life Insurance and TPD Cover, is a lump sum payable; however, it is paid on a medically diagnosed event, rather than disablement like TPD Cover. Medical bills from a long lasting illness could cause severe financial hardship, particularly if you have limited savings or already existing debts. Trauma Insurance is there to cover your medical bills with a lump sum payment.
There is no disability test that needs to be met. Simply, the life insured needs to meet the listed medical definition of the event.
Trauma Insurance can be linked with Life Insurance and TPD Insurance policies or it can be taken out individually. When linked with Life Insurance, Trauma Insurance can be cheaper, however when linked and claimed, it can deduct the balance of the linked Life Insurance.
Why do we use it?
Trauma Insurance can provide a lump sum of money to help you meet your medical expenses and clear hospital debts when you have suffered a medically diagnosed event.
Trauma Insurance policies can offer as little as 5 critical illness events and on average offer around 40 critical events ranging from cancers, heart attacks and strokes to loss of limbs and adult onset diabetes.
Who is it for?
- Mums and dads
- The elderly
- People who have a hereditary disease/s run in the family
- Young people at risk of accident related trauma
- People who want cover incase of a serious medical condition or illness