Do you have Trauma insurance?
Have you considered Trauma insurance?
What is Trauma insurance?
Trauma insurance pays you a lump sum on the diagnosis of a specified non-pre-existing illness or injury, including heart attack, stroke, cancer to name a few.
The benefits of Trauma Insurance
Trauma insurance gives you the luxury of choice. It can provide you with a lump sum of money to help to:
* Take the time needed to recover.
* Obtain the best medical treatment available.
* Provide funds for everyday living expenses and treatment costs.
* Paying for extended time off work (so you can fully recover before you return to work).
* Reduce or eliminate mortgage and other debt.
Private Health is only part of the story – If you have private health insurance, you may think this provides enough protection if you suffer a serious illness or injury. Private health insurance only covers hospital stays and some medical/extras expenses. It won’t cover lost wages, rehabilitation, alterations to your home or long-term nursing care.
“Three in every Four Australians will be diagnosed with a serious illness during their working life”
How much does it cost?
Your insurance premium will be based on your age, smoking status, gender, occupation, health and the amount of cover you choose. We can help develop a plan to suit your budget and ensure you have the right policy suited for your personal circumstances. You can also add Child Cover to your policy for a minimal extra cost, this can help protect you from the financial consequences of a seriously ill or injured child. This cover could allow you to take time off work, and assist with medical, rehabilitation, transport and accommodation costs during your child’s treatment.
For a 30 year old non-smoking male, the premium could be as little as $5 a week for $100,000 of comprehensive Trauma Insurance.
A part-time primary school teacher and a full-time mother, Anna liked to maintain her sanity by reading. And apart from the odd child-induced headache, she always thought she was in reasonable shape.
But in the course of a routine check-up, Anna’s doctor discovered a cancerous tumour in her breast – meaning her breast had to be removed. With no history of cancer in the family, Anna had no reason to suspect this could happen to her.
She didn’t even have a noticeable lump. It was just a matter of luck and good timing that the cancer was picked up as early as it was. Although she didn’t feel that lucky when she had to break the news to her husband. A year earlier Anna had taken out Trauma Cover under her OneCare policy from OnePath Life.
The $100,000 lump sum she received covered her treatment costs and some debts were paid off. It also allowed for Anna’s husband Chris, to take time off work to take care of Anna and their children. There was even enough left over to take her family (and her books) on a much needed holiday.
“Trauma insurance helps minimise the financial impact of serious illness – giving you some breathing space while you recover”
It won’t happen to me…
Having an illness or getting injured is not something we like to think about, however, the harsh reality is that it can happen to anyone. Research shows that illnesses and injuries don’t just affect the elderly. On average, households can expect to incur $47,200 in financial costs after a member of that household is diagnosed with cancer.
To arrange an obligation-free appointment to discuss your needs, please call 07 5437 8888.
Stuart Long – Associate Adviser