Trauma Insurance

By: Elders Financial Planning - Perth   24-Mar-2011
Keywords: Trauma Insurance

Trauma insurance

– or Recovery insurance – provides you with a lump sum on the diagnosis (or occurrence) of one of a list of specified serious medical conditions and procedures. Each insurance company maintains their own list, but they generally include serious medical conditions, such as cancer, heart attack or stroke.

Trauma insurance is designed to provide you with money when you need it most. You can use the money how you choose, for example to cover medical costs and treatment, or to reduce debt. Some people choose to make a permanent lifestyle change, such as reducing their working hours, so they can spend more time with family.

About Trauma insurance

Differences between policies

Medical definitions vary between insurance companies, so make sure you do your research and seek assistance from your adviser when choosing a policy. What one company defines

as a ‘severe burn’ may not be considered 'severe' enough by another.

Some companies also offer partial payments, depending on the level of severity of your condition.  Most policies will cover you for the following list of illnesses and injuries:

What is Trauma insurance?

How much Trauma insurance you require depends on a number of different factors. Your financial adviser can assist you to accurately assess your circumstances and calculate the appropriate level of cover to protect you and your family.

Types of Trauma's that can be covered by Trauma Insurance include:

aplastic anaemia, blindness, cancer, cardiomyopathy,chronic kidney (renal),

failure, chronic liver failure, chronic lung failure, coma, coronary artery,

angioplasty – triple vessel, coronary artery surgery, deafness, dementia, encethalitis, heart attack, heart surgery (open), HIV – medically acquired, HIV – occupationally acquired, intensive care, intracranial benign tumour, loss of speech, major head trauma, major organ transplant, meningitis, Motor Neurone Disease, Multiple Sclerosis, Muscular Dystrophy, out of hospital cardiac arrest, paralysis, Parkinson’s disease, primary pulmonary, hypertension, repair or replacement of aorta, repair or replacement of valves, severe burns and stroke

Keywords: Trauma Insurance

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