Trauma insurance provides you with a lump sum payment in the event that you are diagnosed with one of a specified range of critical illnesses or injuries.
Such a pay-out would relieve you from the worry of how you would afford your monthly outgoings and support your family during a stressful time, allowing you to concentrate on what matters most – your health.
The list of conditions covered is often optional and varies between companies as do the definitions of those conditions. Some trauma benefits are also subject to a qualifying period. The type of events covered by critical illness policies include heart attack, stroke, cancer, paraplegia, multiple sclerosis, chronic liver ,lung and kidney disease.
Trauma policies can also be obtained as a standalone policy or as a rider policy to a Life insurance policy. The rider benefit is normally provided as an advanced payment of a death benefit. Having Trauma Insurance in place means that you and your family will have the peace of mind to know that if you were ever to need time off work due to becoming seriously ill, then there will be enough money to support you through your recovery.