Many people think about Life insurance but… what about the period between life and death? Have you considered the benefits of having cover that benefits you whilst living?
With advancements in medicine patients increasingly have a much better chance of surviving conditions that previously may have been fatal, for example, heart attacks, strokes and malignant cancers.
In the event of suffering a serious medical condition or if you undergo a medical procedure as outlined in your Insurance Company Product Disclosure Statement, Trauma cover will pay a lump sum which can be used for medical expenses and to provide additional funds to put towards your debts.
Usually taken as an additional cover to life insurance for an additional premium, this cover cannot be held through superannuation and as a result, many people do not have this cover and find themselves underinsured.
The benefit on a trauma policy is paid to you when the diagnosis is confirmed, regardless of whether you are working or not. This is important because it provides a lump sum to use at your discretion at the time when it is most needed.
Whilst it is impossible to predict the future and what type of cover we need, it’s important to think about how you would cope in the event of suffering from a Trauma condition.
Trauma cover is one of the most neglected forms of insurance protection and yet when we think about how many people we know who have suffered from cancer or coronary disease, how can you feel that Trauma cover is unnecessary?
Other types of Personal Insurance Cover