#

Trauma Insurance

#


Trauma Insurance (sometimes referred to as Critical Illness) is a relatively new product specifically introduced because of the major medical advances in treatment which has resulted in substantial increases in survival rates after a serious medical condition such as a heart attack. Trauma Insurance can be an important supplement, or as a stand alone product, to Life Insurance. If a person suffers a medical trauma, Life Insurance (including cover residing in a superannuation fund) won’t help, as the person is still alive.

Trauma Insurance offers protection by providing a lump sum payment in the event you are diagnosed with one of a range of specified medical conditions. Some Trauma policies have medical definitions for 10-18 major illnesses or accidents, others may include up to 40 such occurrences, from cancer and stroke to blindness, severe burns or loss of speech or deafness.

The sum insured is usually lower than for Life Insurance since its usual purpose is to avoid financial stress during the recuperation period and possible life changes post this, where items such as home modifications and specialist medical attention may be necessary.

Fact: It can happen

Coronary heart disease and stroke together accounted for three-quarters of all deaths from heart, stroke and vascular diseases.

1.1 million Australians are disabled long-term by heart, stroke and vascular diseases.*

Fact: You will not always be fit and healthy.

Even though we in Australia have increasing life expectancy not all is well! Males have a life expectancy of 76 years but only 58 of those years are likely to be free of some significant disability. For females it is 82 and 63 years respectively.**

Want to find out more?

Taking out insurance is sound financial management. Wealth protection is as important as its creation, and much easier and quicker to achieve. For further information and an assessment of your own personal needs, contact Star Financial Services.

*Source: www.aihw.gov.au

**Source: Australia's Health 2000 - Aust Inst of Health and Welfare

Latest News

Starting a Family
Starting a family is a wonderful and exciting time and so it should be. Preparing for children is a wonderful thing.

Get in Touch

Please contact us for further information on any of our services.