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Trauma & Critical Illness

Most of us hear regularly about someone who has been suddenly diagnosed with cancer or a serious medical condition, who has suffered a heart attack or had a stroke. A friend, neighbour, the children's school teacher, a work colleague.

This makes you realise that no matter how healthy your lifestyle, good health doesn't come with a lifetime guarantee.  So you really should think about what would happen to you, and your family, in the event of a sudden trauma or illness.

How would you be able to cope financially?  How would you meet your mortgage, car repayments, school fees, everyday living expenses as well as the unexpected medical bills and rehabilitation cost that simply aren't covered by your health fund, all without sacrificing your savings or selling your assets?  Which is why you should take a moment to consider Trauma and Critical Illness insurance.

Trauma and Critical Illness Insurance can provide a lump sum payment in the event of you suffering from a number of medical conditions including cancer, stroke, heart attack and coronary bypass surgery.  

You don’t have to die to collect the benefit….. you only have to be diagnosed with a defined illness or trauma to be paid out.

Case Study - Joe's Story

Joe had been working as a plumber since he began his apprenticeship at 17

When he turned 40, Joe went to a financial adviser to discuss his financial future.  As part of Joe’s wealth protection plan, his financial adviser recommended he take out a Trauma Insurance policy with in-built Total and Permanent Disablement (TPD) cover.  This policy provided a lump sum if he suffers a defined serious sickness or injury such as stroke and heart attack and also includes TPD cover, with an “own” occupation definition available to some occupations.  This benefit would cover him in the event of total and permanent disability preventing him from continuing to work as a plumber.

One weekend while painting the roof, Joe slipped and fell, landing on his right shoulder, sustaining a permanent injury.

The injury was such that Joe would never work as a plumber again.  Joe had “own” occupation TPD cover and was paid a lump sum benefit under his Trauma and TPD policy.  He used this payment to clear his mortgage, replace his income and pay for the unexpected costs associated with his disability.

While this is not a real life case, some details are drawn from an actual claim.

Joe had been a plumber for nearly 30 years and it was the only trade he knew.