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Benefits of Trauma Insurance

  • Provides a lump sum benefit if you are diagnosed with one of the critical illnesses defined in the insurer’s PDS.
  • Premiums from as little as $48.02 per month**. 
  • Worldwide cover, 24/7 Cover.
  • You can apply if you are aged between 15 and 63 years old.
  • Combine Trauma cover with Life Insurance and save on premiums. 

Trauma Insurance

While medical and technological advances have improved our chances of surviving a life-threatening illness, it also comes with a price tag. Due to loss of income and the additional costs of medical expenses, you might now have a ‘living’ financial risk. Critical illness insurance (CI) is designed to address this risk.

Trauma Conditions are not the same for every insurer. You need to carefully consider which trauma insurance and policy type best suit your needs. It’s recommended that you review policies based on the amount of conditions an insurer covers and how easily it is to meet the definition required to have the insurer pay out a claim.

What is Trauma Insurance?

Trauma insurance is a policy that provides you with a lump sum for financial support in the event of being diagnosed with a critical illness, as defined by your insurer. The benefit can be used to help pay medical expenses, loss of income and provide for your family while you recover.

Getting a Trauma Insurance Quote

To ensure you choose the best critical illness cover for you, it’s advisable that you compare a variety of providers’ quotes, and features side by side with the help of a specialist.

How it works

Before taking out a policy, there are a number of key things you need to be aware of:

What does Trauma Insurance cover?

You are entitled to the lump sum benefit when you are diagnosed with a critical illness, covered by your insurer and meet the specific definition of a traumatic event as outlined by your trauma cover.

According to an in-depth research study done by Zurich, for their Misinformed booklet, around half of all Australians older than 30 will suffer from one or more of these diseases at some point in their lives:

Trauma Insurance covers up to 60 critical conditions to provide financial support to the insured, should they suffer from a condition listed. In general, 80% of claims is for heart disease, cancer, heart attacks and stroke. The number of illnesses you are covered for is dependent on your choice of insurer and policy type; Standard vs. Plus.

Standard Policies

Standard policies cover 30 – 43 major critical illnesses including cancer, heart, neurological and permanent conditions as well as organ and blood disorders, intensive care and other events.

Benign brain tumourMultiple sclerosisBurns of limited extent
Benign tumour of the spineMuscular dystrophyCritical care
CancerSevere rheumatoid arthritisAbsence of hand or foot
Aortic surgery CardiomyopathyMedically acquired HIVCongenital blindness
Coronary artery by-pass surgeryOccupationally acquired HIVCongenital deafness
Heart attackChronic kidney failureDevelopmental dysplasia of the hip
Heart valve surgeryChronic liver diseaseDown’s Syndrome
Open heart surgeryChronic lung diseaseDisseminated intravascular coagulation
Cardiac arrestMajor organ transplantEclampsia
Primary pulmonary
hypertension
PneumonectomyEctopic pregnancy
Triple vessel angioplastySystemic sclerosisHydatidiform mole
Alzheimer’s diseaseComaInfant death
Brain damageIntensive careInfantile
Cognitive lossLoss of speechTetralogy of fallot
DementiaSevere burnsTransposition of great vessels
Parkinson’s diseaseSevere diabetesSystematic lupus
erythematosus (SLE) with lupus nephritis
Major head traumaTerminal illnessTrache-oesophageal fistula
StrokeDiagnosed benign tumorAngioplasty
EncephalitisAngioplastyMinor heart attack
Meningitis and/or meningococcal diseaseMinor heart attackHydrocephalus
Colostomy and/or ileostomy
BlindnessHydrocephalus
Colostomy and/or ileostomy
Severe endometriosis
DeafnessSevere endometriosisAdult insulin dependent diabetes mellitus*
Loss or paralysis of limbAdult insulin dependent diabetes mellitus*Esophageal Artesia
Motor neurone diseaseSevere burnsSpinal bifida
Aplastic anaemiaSevere diabetesMyelomeningocele
Cleft lip and/or palateTerminal illnessStillbirth
Diagnosed benign tumorhydrocephalusNeonatal death

We make it easy for you to compare policies online with our powerful comparison engine.

Buy with confidence today for peace of mind tomorrow.

Plus Policies

Plus Policies cover an additional 10-20 more minor conditions including loss of hearing or sight, early stage cancer, diabetes, Crohn’s disease, partial Alzheimer’s disease and more. For these conditions, you will typically receive a partial payment. Because Plus Policies offer cover for additional illnesses, they are generally more expensive.

Diabetes ComplicationCarcinoma in situ of the Cervix Uteri
Carcinoma in situ of the Vulva or Perineum of limited extentCarcinoma in situ of the vagina
Chronic Lymphocytic LeukemiaHydatiform Mole
MelanomaPartial Blindness
Partial Loss of HearingSevere Osteoporosis

What affects my insurance premiums?

Your insurance premiums will generally be affected by:

  1. The policy type you choose: Standard or Plus
  2. Your sum insured
  3. Your premium structure: Level premiums vs. Stepped premiums
  4. The insurer selected and their rates/premiums for the policy
  5. Your Age and Gender
  6. Smoking status
  7. Health status
  8. Occupation
  9. Additional policy options selected

Claiming on your Trauma Insurance policy

Whichever policy type and insurer you choose will clearly state which illnesses are covered and how severe it needs to be in order for it to pay out. For you claim to be processed quickly, make sure you provide the insurer with all the requirements needed. To know what those requirements are, speak to our specialists to help you through the process.

Some policies will pay you the full assured amount on diagnosis of a critical illness; others pay out a percentage of the amount, depending on the severity of your illness. It’s important that you read the Policy Disclosure Statement (PDS) and speak to a professional before you make your decision.

Frequently asked questions

  • Who needs trauma cover?

    Financial protection against critical illnesses is vital to any person, especially as your financial responsibilities increase and the older you get. As you age, the probability of suffering a critical illness increases. The older you get, the higher your premium becomes because your risk of developing a critical illness increases with every year. If you have a mortgage, people dependent on your monthly salary or need to repay debts and medical expenses while you recover, you will need Critical illness cover to help you.
  • How is Trauma Insurance different from TPD and Income Protection?

    Trauma insurance pays out a lump sum when you are diagnosed with a critical illness, as defined by your insurer. Total and Permanent Disability (TPD) insurance, on the other hand, pays out a lump sum in the event of your total and permanent incapacity. Income Protection covers up to 75% of your income and pays a monthly benefit should you be unable to work due to illness or injury.

    We detail the full differences, pros and cons of TPD and income protection in this handy guide.
  • How do I find the best Trauma Insurance policy in Australia?

    Many basic Critical illness cover policies in Australia may appear similar, but their definitions and requirements for paying a claim can differ dramatically. The easiest way to finding a policy that is suitable for your circumstances is to compare the leading insurers in Australia and to speak to our specialists. At Life Insurance Direct, we compare the 10 leading insurers in Australia and give you a detailed quote from all of those insurers.

**Based on a 30-year-old, non-smoking male admin clerk, living in NSW, purchasing $500,000 worth of Trauma Insurance as at 21 November 2019 (stepped premiums).

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