Trauma insurance provides a lump sum benefit or equivalent instalments if you’re diagnosed with a specific illness or injury covered by the policy (such as cancer, stroke, heart disease, blindness, severe burns, loss of speech or deafness). The benefit amount, chosen by you, can be used to reduce debts, pay for medical expenses and maintain your lifestyle while you recover.
Why you need Trauma insurance
Trauma insurance is especially important for families or those with dependants, especially when only one spouse is working. Consider the consequences if one half of a couple become seriously ill and was unable to work. How would they cope with the mortgage and everyday expenses on top of medical costs for treatment and rehabilitation? Trauma insurance provides funds for everyday living expenses and treatment costs. It may even allow you to make permanent lifestyle changes like returning to work part-time.
- One in three Australian males, and one in four females, can expect to be diagnosed with cancer before age 75.
- Death rates are falling for many of our leading health concerns, such as cancer, heart disease, strokes, injury and asthma.
- On average, households (in NSW) can expect to incur $47,200 in financial costs after a member of that household is diagnosed with cancer.
For a free financial check up, make an appointment with one of our Financial Advisers here at Oculus.