Trauma insurance
Trauma insurance pays a lump sum on diagnosis of a range of serious illnesses, including heart attack, stroke and malignant cancer. It's likely that you, your family or business could be in serious financial trouble should this occur.
With trauma insurance you would have access to benefit payments upon the confirmed diagnosis of such an illness. These payments can be used for whatever purpose you choose, whether it be specialist medical attention, covering the cost of home modifications, repaying debts such as your mortgage or travel for recuperation.
Trauma insurance is relatively new product in the industry and it is also known as critical condition insurance. Trauma insurance pays a lump sum to the insured on the diagnosis of any of the listed insurable diseases or medical conditions as detailed in the policy.
Trauma insurance cover is basically filling in the gap between term life insurance, AFIS provides insurance and income protection insurance. If someone was to have a mild stroke and was seriously ill and was only able to return to work after 3 months fully recovered, they would not be able to claim under their term life insurance, and may not under the income protection insurance as the illness was not sufficiently long lasting or resulting in an inability to work again.
Trauma insurance is receiving a lot of interest because people are becoming more and more aware of the statistical chances of them contracting one of these major medical conditions, and the associated medical costs of their treatment and rehabilitation.
Some of the more common medical condition for which you are able to get trauma insurance are listed in the table below:
Heart Attack |
Cancer |
Blindness |
Quadriplegia |
Serious Injury |
Loss of Limbs |
Loss of Sight |
Stroke |
Deafness |
Major head trauma |
Coma |
Motor Neurone Disease |
Chronic Liver Disease |
Hemiplegia |
Heart valve surgery |
Major organ transplant |
Open Heart Surgery |
Loss of Speech |