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Trauma Cover

Trauma Cover Insurance

Trauma Cover provides a lump sum payment should you suffer one of the covered conditions. Covered conditions are by nature serious and potentially life threatening and, as a result, can have a significant financial impact. Trauma Cover is designed to help alleviate this financial impact. The lump sum can help reduce debt, purchase specialised equipment, pay for home modifications, provide additional care, create an investment fund to generate ongoing income, or enable business ownership to be restructured, among other things. The purpose of the funds is entirely yours to decide.

Early payment of Life Cover benefit or a benefit on its own

You have the choice to select accelerated Trauma Cover which means in the event of a claim all or part of your Life Cover benefit is paid out. Alternatively, you can select a stand-alone benefit which pays a lump sum that does not reduce any other benefit you might be covered for. The accelerated benefit option is less expensive than the stand-alone benefit option.

Cover for your children

You have automatic Trauma Cover of $50,000 for each of your children, from 4 months old until their nineteenth birthday, which is payable in addition to your Trauma Cover. This cover can then be converted into a full benefit without medical assessment within 90 days of your child’s nineteenth birthday.

Buying back claimed benefits

You can purchase an additional Life Cover buy back option which allows you to buy back any Life Cover which is reduced by an accelerated trauma claim, provided the life assured survives twelve months following the claim (or, for certain conditions, six months following the claim). You can also purchase an additional Trauma Cover buy-back option which allows you to repurchase the Trauma Cover that has been claimed, provided that the life assured survives twelve months following the claim.

Covered Trauma conditions
  • Alzheimer’s Disease or Dementia
  • Angioplasty
  • Aortic Surgery
  • Aplastic Anaemia
  • Benign Brain Tumour
  • Benign Spine Tumour
  • Blindness
  • Cancer
  • Cardiomyopathy
  • Chronic Kidney Failure
  • Chronic Liver Failure
  • Chronic Lung Failure
  • Coma
  • Coronary Artery Surgery
  • Creutzfeldt-Jakob Disease (CJD)
  • Deafness
  • Diabetes
  • Encephalitis
  • Heart Attack
  • Heart Valve Replacement
  • HIV – medically or occupationally acquired
  • Intensive Care
  • Loss of Independent Existence
  • Loss of Limb and Sight
  • Loss of Limbs
  • Loss of Speech
  • Major Burns
  • Major Head Trauma
  • Meningitis
  • Motor Neurone Disease
  • Multiple Sclerosis
  • Muscular Dystrophy
  • Open Heart Surgery
  • Organ Transplant
  • Out of Hospital Cardiac Arrest
  • Paralysis
  • Parkinson’s Disease
  • Peripheral Neuropathy
  • Pneumonectomy
  • Primary Pulmonary Hypertension
  • Severe Inflammatory Bowel Disease
  • Stroke
  • Systemic Sclerosis
  • Terminal Illness
  • Total and Permanent Disability
Other benefits may include;
  1. Partial payments
  2. Bringing you home
  3. Treatment away from home
  4. Expert assistance
  5. Diagnosis assistance
  6. Special events increase
  7. Future proofing the value of your benefits
  8. Optional increase benefit
  9. Premium holidays
  10. Loyalty discounts

* The above are examples only and may vary depending on which company your cover is with.

Trauma Cover

In my opinion, this is one of the most vital insurance benefits you could have in addition to your base life insurance cover.  We are living longer and medical technology is so rapidly advancing that we are surviving longer and therefore life insurance is not being paid out, so Trauma Insurance Cover is being paid out (if you have it that is).

If you do not have some form of this cover which is also known as Crisis Cover, Critical Care, Trauma Cover, Trauma Insurance and some other variations of names, but it is basically the same.

What you do have to be careful for is that there are also two variations of the cover which is basic and comprehensive.  The basic variation may cover around 8 to 12 conditions while the comprehensive cover could cover around 40 conditions so be careful if you are purchasing this cover through direct channels based on price.

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