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Trauma Insurance
Trauma insurance is relatively new product in the industry and it is also known as critical illness 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 filling the gap
Trauma insurance cover is basically filling in the gap between term life insurance, TPD 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 TPD and 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.
Trauma insurance medical conditions
Some of the more common medical condition for which you are able to get trauma insurance are listed in the table below:
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Heart Attack |
Cancer |
Blindness |
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Quadriplegia |
Serious Injury |
Loss of Limbs |
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Loss of Sight |
Stroke |
Deafness |
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Major head trauma |
Coma |
Motor Neurone Disease |
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Chronic Liver Disease |
Hemiplegia |
Heart valve surgery |
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Major organ transplant |
Open Heart Surgery |
Loss of Speech |
Please note that a trauma policy will have a specific medical definition which has to be met before the claim is accepted. You need to fully understand what these are and what they mean.
Where can I get trauma insurance?
Trauma insurance policies are available through licensed insurance advisers. The benefit of using an insurance adviser is that you can get a number of trauma insurance quotes from a range of insurers at the same time ensuring you receive a range of quotes from selection of insurance companies.
Exclusive Offer! Call xLife on 1300 135 205 today and
save up to 20% on your first year’s trauma protection premium.
December 2009
