What is Trauma cover?
Trauma Insurance generally provides a lump sum payment if you suffer a specified serious illness or injury covered by the policy.
It is sometimes called:
- Critical Illness Cover
- Recovery Insurance
- Trauma Cover
Depending on the policy, Trauma Insurance may cover serious medical events such as certain cancers, heart attack, stroke, major head injury or other listed conditions. The exact conditions covered depend on the policy wording.
The benefit may help with expenses such as:
- Medical costs
- Treatment costs
- Recovery expenses
- Mortgage or rent
- Household bills
- Time away from work
- Family expenses
- Reducing debt
- Adjusting lifestyle during recovery
Trauma Insurance is different from Life Cover because it is designed to respond while you are still alive after suffering a covered serious illness or injury.
It is also different from Income Protection Insurance, which is generally designed to provide a monthly benefit while you are unable to work due to illness or injury. Trauma Insurance is usually structured as a lump sum benefit.
