Plan for the Unexpected with Trauma Cover Insurance
Trauma cover insurance provides a lump-sum payment if the policyholder is diagnosed with life-threatening medical conditions that seriously compromise the current and future quality of life.
The covered illnesses typically include serious conditions such as cancer, stroke, cardiovascular conditions, kidney failure, and other major medical conditions. However, most trauma policies cover above 30 specific conditions but some limit to just a few major ones. The list varies from policy to policy.
The lump-sum payment provided by trauma cover insurance can be used by the policyholder to cover medical expenses, ongoing treatment costs, rehabilitation, childcare, pay off mortgages, or any other financial needs that may arise due to the critical illness.
To qualify for a trauma insurance claim, it is not necessary for the insured person to experience death or permanent disability due to severe medical trauma. It’s crucial to recognise that policy terms and conditions may differ among insurance providers. Therefore, it is recommended to thoroughly examine the policy details, including the covered illnesses and events, exclusions, waiting periods, and other particulars before acquiring trauma cover insurance.
As financial advisers, we are here to help you compare options offered by various insurers to identify coverage that aligns with your specific needs. Our advice is tailored to your individual situation, and we will guide you in maintaining your insurance up-to-date.
