Personal Insurance

Trauma insurance (also known as Critical Illness or Medical Recovery Insurance) is generally paid as a lump sum upon diagnosis of a series medical condition such as cancer, heart attack, stroke or an accident. 

Trauma insurance takes the pressure off, so you can spend your time focusing on recovering, not worrying about finances. 

The Facts

 “Statistics show us that on average 1 in 4 women and 1 in 3 men will suffer from a cancer during their lifetime." Cancer in NSW, 1998

"Cardiovascular disease was the leading cause of death among Australians in 1998, accounting for 40% of deaths." Aust Heart Foundation, 2001

“87.5% people suffering a heart attack go on living” – Access Economics, 2009

Benefits of Trauma Insurance

While conditions such as heart attack, cancer and stroke are increasing, advances in medicine mean we are more likely to survive those conditions.

Unfortunately, these advances in medicine do not remove the financial burden. The benefit of trauma Insurance is that it pays a one-time lump sum that allows you to:

  • Cover your out-of-pocket treatment costs
  • Make lifestyle changes so you can focus on healing
  • Take time off work
  • Have a stress-free holiday

Of all the insurance types, Trauma Insurance policies vary the most, which can often result in complications in the event of a claim. Things to watch out for include:

  • How many conditions are covered?
  • How clear is the definition for each condition?
  • Does the insurer pay on diagnosis? Or do they require you to undergo treatment?
  • If you suffer one condition are you covered for future conditions?
BHA’s experienced advisors can advise you on selecting the right policy and also represent you in the event of a claim. 

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