Trauma / Crisis Cover has been the most used Personal Insurance associated with my business for the time I have been associated with the industry (over 34 years) we have been associated with 1.7 million dollars in clams over the last 7 years.
What can you do with it ?
Trauma insurance provides a tax free lump sum to help with ANY financial need after suffering a Major Trauma. Trauma definitions and premiums vary from Life Office to Life Office, that’s part of my job to make a detailed recommendation after researching available products per your circumstances.
What is a Major Trauma?
This can vary from:
- Cancers
- Strokes
- most Heart Disease events
- Parkinson’s Disease
- Paraplegia
- Quadriplegia
- Motor Neurone Disease
- Multiple Sclerosis
and many other Major Trauma events ( up to a total of 70 events) plus other options, depending on the Company.
How much does it cost?
Legislation prevents me from giving totally accurate premium calculations here but I am able to provide indicative calculations. For a 45 year old male, non-smoker, insured value $100,000 the premium can vary from $57.00 to $89.00 per month depending on the benefits provided and the Company. You can apply for Trauma cover up to age 64.
Note the Majority work Superannuation funds DO NOT provide Trauma Cover associated with the personal Insurance component.
Want more information and to discuss your particular requirements? Contact me for a confidential chat.
