We all get sick sometimes – that’s life. But some of us will experience serious illness. The cost of recovering from a condition like cancer or heart attack can take its toll. Not just emotionally, but financially, too. How would you afford the cost of medical treatment? How would you cover your debts – including your mortgage – or be able to cope financially as you ease back in to work?
Trauma insurance pays you a lump sum payment in the event that you are diagnosed with a specified illness (up to 45 major illnesses – depending on insurer) including (but not limited to) things like cancer, heart attack, stroke etc. Trauma insurance is designed to give you money when you need it most.
It is also referred to as 'critical illness' cover or 'recovery' insurance
It is the most claimed on policy in Australia due to the large rate of people being diagnosed with cancer.
About 88% of stroke survivors live at home. Most of them live with a disability
Cost of Cancer in NSW (April 2007) A report by Access Economics Pty Limited for The Cancer Council NSW