What is Trauma Insurance?

Trauma Insurance is about protecting you and your family’s lifestyle whilst also providing you with choice when it matters most – choice to receive the best treatment available, choice to allow your spouse to take some time off work to help you rehabilitate and choice to use the money however you want.

No one thinks it is ever going to happen to them – but what if one day, you unexpectedly had a heart attack like one of our customers Jan. Jan was 50 years old and fit and healthy, but one day after suffering from stress, Jan had a heart attack. Jan was told she was ‘half a centimetre away from death’ that day.

Luckily Jan had taken out trauma insurance as there was a history of breast cancer in her family. She received payment six weeks later and was able to choose what she wanted to do with the funds, such as pay off debt, or set aside the money for retirement as she may need to retire earlier.

“I now see why it is so important to be adequately insured to protect against unforeseen events in life particularly where health is involved, because it has a major impact on your life,” says Jan.

Some people are aware that they are at higher than normal risk due to family history. Sadly the majority of people who are diagnosed with cancer, cardiovascular disease or serious illness did not know they were at risk.

Dealing with the emotional consequences of suffering a serious illness can be hard enough, but adding financial stress on top of this can be devastating. Trauma Insurance eases the financial burden allowing you to focus on getting well.

Trauma insurance pays a cash lump sum payment in the event of contracting a specified disease or trauma and covers up to 58 defined events such as cancer, heart attack and stroke.

Trauma insurance gives you a lump sum payment to ease the financial pressures of not working and could be used to cover things such as:

  • To pay for a specialist or possibly receive international medical attention
  • The cost of modifications made to the home or relocating to more suitable accommodation
  • Financial obligations whilst recovering (living expenses, debts) • Rehabilitation and recovery costs
  • Paying off outstanding debts or providing an ongoing income
  • A professional carer
  • Enabling your partner or family member to reduce their working hours to look after you.

^Michael – Practice Development Manager