Trauma Insurance Claims

The most common cause of trauma insurance claims include cancer, stroke, and heart disease. These top three conditions account for nearly 70% of all trauma insurance claims (1). 48 is the average age of a claimant (1).

The variety of medical conditions and illnesses covered by life insurance companies vary, so make sure you carefully analyse the definition of each condition as outlined in your product disclosure statement (PDS) before choosing a trauma insurance policy. 

Typical claims on trauma insurance

As cancer is the number one reason for a critical illness insurance claim, we have outlined below the four main types of cancers which account for over half the cancers suffered by both men and women. Due to medical advancement, the chances of survival these days are quite high, despite the lengthy recovery periods.

The four main types of cancer claims for women include:

• Lung
• Breast
• Bowel
• Melanoma of the skin

The four main types of cancer claims for men include:

• Prostate
• Bowel
• Lung
• Melanoma of the skin

When trauma insurance claims can be denied

When deciding on which trauma insurance policy is best for you, you should make sure that you read and understand any exclusions or other conditions outlined in the trauma insurance policy document (PDS).

Trauma insurance claims may be declined for the following reasons:

• Conditions or injuries that are intentionally self inflicted
• A pre-existing condition that has not been disclosed
• A condition or disease which is not covered in the policy
• A claim made before expiry of the waiting period

Source:
1 Tower Claims statistics, September 2008

Exclusive Offer! Call xLife on 1300 135 205 today and
save up to 20% on your first year’s trauma protection premium.

December 2008