Trauma Insurance
Definition:
Trauma insurance is an insurance product, where the insurer is contracted to make a lump sum cash payment if the policyholder is diagnosed with one of the Trauma's (critical illnesses), listed in the insurance policy.
Trauma refers to a sudden serious physical or mental injury. Trauma can keep people out of work for a long time, as they struggle to heal either mentally, physically or both. Trauma insurance financially protects people against such situations and allows people to get back on their feet and live a normal life.
Trauma insurance helps people pay for treatment and other expenses after trauma. It will pay a lump sum when you are diagnosed with a life-altering medical condition. Trauma insurance is paid out by your life insurance company. The amount of money paid out varies depending on your insurance company. Your trauma insurance will be defined in the company's product disclosure statement or PDS. Product disclosure statements exist to inform you of your rights as a life insurance owner.
Please call us on 03 9686 0688 to discuss your Trauma Insurance requirements.
