Trauma insurance, also known as critically ill insurance, is a type of insurance policy taken out to provide financial support via a lump sum payment if you suffer from a critical illness or injury. For example, if you suffer from a heart attack or stroke, are diagnosed with cancer, severe burns, paraplegia or other critical illnesses or injuries.
Trauma insurance pays out a single lump sum which you can use towards medical treatment costs, covering living expenses, or paying off debts to ease financial pressure after a diagnosis or injury.
Trauma insurance is an important insurance to take out to safeguard your financial future, in the event of suffering from a heart attack, stroke, cancer diagnosis or other critical illness or injury.
Trauma insurance is paid out as a lump sum payment and may be used to cover the medical or treatment costs of your critical illness or injury, living expenses or paying off debts to ease your financial burdens during your illness and recovery.
You work with your insurance broker to determine a suitable amount of coverage, dependent on your individual circumstances.
The amount of trauma insurance you need is dependent on your circumstances. It is recommended that you consider your future financial expenses as well as what potential medical costs may be involved with a critical illness or injury.
To take out a trauma insurance policy please contact our team to book an appointment to discuss your circumstances and what coverage you need.
Trauma insurance and income protection insurance have many similarities, but trauma insurance provides you with a lump sum payment in the event of a serious injury or illness, such as a heart attack, stroke or being diagnosed with cancer. In comparison, income protection insurance pays you a monthly benefit for a serious injury or illness.
Life Wealth Protection Pty Ltd
ABN 54 666 329 531 | Corporate Authorised Representative No. 1303062
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Any information or advice contained on this website is general in nature and has been prepared without analysing your personal situation, financial needs and objectives. All products and information displayed on this website is subject to insurance policy terms and conditions including eligibility criteria, exclusions and limitations. You should carefully read the Product Disclosure Statement (PDS) of our insurers to ensure that the product fits your needs. A copy of each PDS is available on this website or by contacting us.
