What impact would a traumatic event have on you and your family?
Trauma events encompass severe medical conditions that have the potential to affect the well-being of you or your loved one.
These include conditions like:
- Heart attacks
- Major head injuries
- Alzheimer’s disease
Conditions like cancer and strokes can strike without warning, affecting the person facing the illness and the entire family. These medical conditions often come with substantial medical expenses and unplanned financial burdens, making it challenging for the family to cope. Additionally, dealing with a life-threatening illness can disrupt the ability to work, adding another concern for the family’s financial stability.
During such challenging times, with interest rates rising, mortgage repayments increasing, and the cost of living, in general, being a continually increasing financial burden, trauma insurance steps in and provides support for both you and your family with a lump sum payment. It’s designed to provide essential support by covering medical bills and those unexpected out-of-pocket expenses that can strain a family’s budget.
What Impact would Trauma insurance have?
Two out of every five people will face a cancer diagnosis by the time they reach the age of 85. What would happen if you or a family member received that life-changing diagnosis and could no longer work?
In times like these, is it a relief to have access to a lump sum of money that could step in to replace lost income and help relieve the pressure of mounting medical bills and unforeseen expenses? Trauma insurance offers comprehensive financial protection. Here are some of the ways trauma insurance can be your safeguard:
- Settling Outstanding Medical Bills
- Adapting the Family Home, such as creating wheelchair access, reconfiguring the bathroom, etc
- Household Bills
- General Living Expenses
- Paying off the Mortgage
- Ongoing Recovery Costs
The Benefits of Trauma Insurance
- Financial Support through a Lump sum payment: Trauma insurance allows you to have financial protection through a lump sum payment. This lump sum payment can be used for out-of-pocket medical bills, ongoing living costs, changes to the family home, and ongoing recovery costs. The lump sum payment will be paid regardless of whether or not the insured person can still work or will be able to work in the future.
- Broad Eligibility: Trauma insurance covers Australian citizens aged 16 and up to 65 and some up to 70.
- Inflation Proofing: Trauma insurance is subject to annual inflation adjustments, ensuring its coverage maintains pace with prevailing inflation rates.
- Long Policy Timeframes: Trauma insurance features an extended policy timeframe, providing long-term security and protection for policyholders.
Should you require further information in relation to trauma insurance, please feel free to contact Peter Quinn by submitting an enquiry or calling us on +61 2 9580 9166 to book an obligation-free appointment.
The information in this document does not take into account your personal objectives, financial situation, or needs, so you should consider its appropriateness having regard to these factors before acting on it. It is important that your personal circumstances are taken into account before making any financial decision, and it is recommended that you seek assistance from your financial adviser.