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Trauma Cover Insurance

trauma cover

Even if you have private health insurance, chances are that if you are diagnosed with a serious medical condition, physical, emotional and financial turmoil aren’t far away. Income Protection insurance can replace the bulk of your income if you’re unable to work but Trauma insurance means you’ll have a lump sum of money to cover those unexpected medical bills or lifestyle alterations that need to be made.

Trauma cover is paid out if you contract any of the medical conditions specified on the policy. Each insurer has their own list of specified conditions but they all include serious conditions such as heart attack, cancer and stroke.

The cover is designed to help you meet your financial obligations while you recover so there are no lasting financial consequences from your illness. Diseases such as cancer in particular can leave you with significant out-of-pocket treatment related costs that can be difficult to fund even if your income is uninterrupted.

Trauma cover differs from TPD insurance in that it will pay you if you contract one of the illnesses specified in the policy to help in your recovery and getting back to work - you don’t need to be permanently disabled in order to receive the payout.

It differs from Income Protection insurance in that it will pay you on diagnosis of the condition – it provides a payout so you can pay expenses regardless of whether or not you are able to continue working.

If you’re concerned about the effect that a traumatic illness could have on your lifestyle and the welfare of your loved ones, contact Australian Global Life Solutions to discuss the options that can help you reduce the financial impact.

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Australian Global Life Solutions Pty Ltd. ACN: 601861992/ABN:42601861992. Authorised Representative No.001233203. Authorised Representative of Auss Life Pty Ltd ABN 48 644 705 797 AFSL 526288.

Information on this website contains general advice and has been prepared without taking account of your personal financial objectives, situation or needs. You should consider this advice and obtaining personal advice before acting on it. If you require personal risk insurance advice you can contact Australian Global Life Solutions on +61 7 5526-8955. We can also provide you with the relevant terms and conditions, guide to fees and charges, Product Disclosure Statement and Financial Services Guide which you need to consider before making any decision about whether to purchase or continue to hold a financial product. Please note Australian Global Life Solutions is unable to provide advice on expatriate health & evacuation insurance though we will refer you to our associate who can provide advice on this product.