Also known as Critical Illness Insurance, Trauma Insurance pays a lump sum in the event that you suffer a medical trauma that impacts your life and lifestyle. More than 50 different trauma events may be covered including a heart attack, stroke, cancer, diabetes, Alzheimer’s disease, loss of limbs, and brain tumours.
In the event of a trauma, you and your family can use the lump sum to:
Trauma Insurance is not a replacement for Income Protection or Private Health Insurance. It’s designed to help pay off debts and the costs of rehabilitation. You could use the money to pay for specialists or medical bills, make modifications to your home, pay off your mortgage or cover rental payments.
Trauma Insurance is relatively more expensive compared to other forms of Life Insurance. Like other Life Insurance products, Trauma Insurance premiums are personalised for your situation. They can vary according to: