Trauma Insurance

If you suffer from what is known as a medical trauma, life insurance won't help as you are still alive. Suppose you become seriously ill but you are able to return to work after six months. Will you be as productive as before or able to work as hard?

Other insurance policies like income protection and TPD may not be suitable either, since payouts depend on the effect of the event after it has already taken place. This does not help with immediate and necessary expenses like living costs and medical treatment. What is needed is a cover like trauma insurance which pays out on the actual occurrence of the incident.

This form of insurance is available as an optional benefit on a term life insurance policy, or a ‘standalone’ policy. A trauma payment is likely to be paid should you suffer any of the covered conditions. This could include, but not limited to heart attack, stroke, cancer, paraplegia, multiple sclerosis, Parkinson’s disease, chronic liver, lung and kidney disease and many more.  

The lump sum payment as a result of taking up trauma insurance can be use to:

• Pay for immediate and ongoing medical attention
• Cover the cost of modifications to the home and car
• Avoid financial stress in recovery, such as living expenses and debts

In the next 12 months, it is estimated that in Australia:

• 30,000 people will suffer a heart attack
• 55,500 people will develop cancer
• 25,000 will suffer a stroke

Having a trauma insurance policy in place allows you to plan for expenses and gives you every opportunity to recover from the trauma, both physically and financially. 

For more information on Trauma Insurance, or any of our financial services, you can ring us on (02) 9680-0131. Alternatively, you can book a FREE Consultation, by using our Online Enquiry Form.

All risk insurance services and advice is offered by authorised representatives of Professional Investment Services Pty Ltd (ASFL: 234951 and ABN: 11 074 608 558)