Accidents and serious illness can strike anyone at any time. We all know someone who has been affected by a heart attack, stroke or cancer.
In fact, the latest statistics tell us that 1 in 2 men and 1 in 3 women will be diagnosed with cancer by the age of 85 and, on average, every 10 minutes someone in Australia suffers a stroke. Would you be in the financial position to cover any immediate medical expenses and other outgoings should you take ill? With trauma insurance you have options and can reduce the financial impact at a time when you need it most.
We take out car insurance because we know car accidents happen regularly. Yet, according to these statistics serious illness is extremely common, so why do we think twice when it comes to taking out trauma insurance? Trauma Insurance (also known as critical illness insurance), like all insurance policies, covers against a possibility – but specifically the possibility of suffering a major medical issue such as cancer, stroke or heart attack.
The major advantage of trauma insurance is that it will pay out a lump sum benefit that can be put towards paying for expensive recovery costs including rehabilitation, necessary lifestyle changes such as modifications to your home or helping to cover mortgage repayments. The money is yours to do with as you like. For example, it offers you the option of hiring a carer or enabling your partner to reduce their working hours so they can care for you.
Unlike your private health insurance which has caps and limitations with regard to specific illnesses, or income protection insurance that usually pays after a set period of time; trauma insurance provides financial security that can allow you to assist in funding medical treatment - which can in the long term make a real difference to your quality of life.
Talk to the team at Pacesetter Financial Services to ascertain whether trauma insurance is right for you. Call us on 07 3808 2808 today.