If you have private health insurance, you may think this provides enough protection if you suffer a serious illness or injury. But private health insurance only covers hospital stays and some medical/extras expenses.
It won’t cover lost wages, rehabilitation, alterations to your home or long-term nursing care.
The costs associated with a serious illness or injury can quickly add up. You can use a Trauma Cover lump sum payment to pay for all sorts of expenses, including:
You can also use your benefit to top up your superannuation if you decide, or are forced, to retire earlier than planned.
The majority of trauma insurance claims are paid in the areas of cancer, stroke and heart attack as shown below (data provided by AVIVA which shows their claims paid for Trauma Insurance between 2004 and 2008).
Cancer in Australia: an overview, 2008 Australian Institute of Health and Welfare, December 2008.
General Cologne Life Re Australia, 2002.
AIHW and Australasian Association of Cancer Registries, Cancer in Australia in 2001, Canberra, 2004.
After having had my income protection, with a company based abroad, for the last 15yrs I recently decided to sort it here in Australia.(Now based here so it makes sense.)
Needless to say the thought of trying to get a similar product for a good price was a concern....
Dr S.T (BDSc)
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