Trauma Insurance means Financial Assistance whilst I Recover
3 Quotes from 1 Place.
MultiCover will arrange a number of personalised Trauma Insurance Cover options and free quote choices to consider.
These will be designed to provide financial security to you and those dependent on you financially whilst you recover from a trauma such as Heart Disease, Cancer, or Stroke.
Medical emergencies happen every day, often without warning. Cancer, Heart Disease, and Stroke have a major impact on the sufferer and their family. Thankfully modern medical technology means that that most of us recover from our medical trauma. Trauma Insurance Cover can help protect you from the mounting financial pressures during the recovery period. There are more than 35 illnesses covered.
Trauma Insurance Cover pays you out an agreed lump sum on the life insured if that person is diagnosed with one or more serious medical illnesses. It is aimed at providing ongoing financial support as a result of a diagnosed qualifying illness. This protects the life insured’s family from the financial loss that may eventuate as a consequence of the medical illness.
The lump sum can be used for any purpose you choose. As an example you can choose to fund your recovery, cover your expenses, modify the house or even take a well earned holiday.
The MultiCover Trauma Insurance Cover includes a range of insurance options often referred to as Critical Illness Insurance, Trauma Cover, Crisis Insurance and Medical Emergency Insurance.
Remember that your personal insurance needs will vary over time and should be reviewed at least annually. A personal risk specialist can explain the options and help find the right policy and pricing to meet your needs. MultiCover can provide this review even if you currently have cover.
Get a quote and see for yourself how affordable our Trauma Insurance Cover can be for you!
MultiCover provides affordable peace of mind.
What are the benefits?
Trauma Insurance Cover is a lump sum that will enable you to:
- Cover any medical associated with crisis recover
- Fund a change of lifestyle
- Payout the mortgage or remaining debts
- Continue the children’s education
- Ensure funds are available to replace any loss of family income
- Help the family members achieve their life goals
Trauma Insurance Cover will only be paid on the diagnosis of a qualifying illness.
| Alzheimer’s Disease | Aortic Surgery | Aplastic Anaemia |
| Benign Brain Tumour | Blindness | Burns – Server/Major |
| Cancer | Cardiomyopathy | Coma |
| Coronary Artery Angio | Coronary Bypass Surgery | Deafness |
| Dementia | Diplegia | Encephalitis |
| Heart Attack | Heart Valve Surgery | Hemiplegia |
| HIV – Accidental Infection | HIV – Occupational Acquired | Kidney Failure – Chronic |
| Life Cover – Death Benefit | Liver Disease – Chronic | Loss of Independence |
| Loss of Limbs or Eye | Loss of Speech | Lung Disease – Chronic |
| Major Head Trauma | Major Organ Transplant | Motor Neurone Disease |
| Multiple Sclerosis | Out of Hospital Cardiac Arrest | Paraplegia |
| Parkinsons’s Disease | Peripheral Neuropathy | Pulmonary Hypertension |
| Quadriplegia | Stroke | Terminal Illness |
| Total & Permanent Disability |
Consider a specified illness (e.g. cancer) where you are diagnosed and able to work. In this case you may not be eligible for Income insurance but you would receive a lump sum through Trauma Insurance Cover. The combination of both covers can be an effective way to maximise risk protection. However, if the insured is not working then Income Cover would not be available and Serious Illness Cover only would be available.
There are a number of qualifying requirements and options available when it comes to Trauma Insurance Cover. Generally pre-existing conditions are excluded from the specified illnesses. Serious Illness Cover options can include the possibility of structuring a policy so that it minimises the risk for multiple lifetime medical illnesses or alternatively the policy can be in place as a once off event.
Although most Trauma Insurance Cover policies pay immediately on an accidental illness, it is important to note that generally a Trauma Insurance Cover policy has a qualifying period. This is normally 90 days.
Your Trauma Insurance Cover policy will specify the illnesses that are covered and may differ from one policy to the next. Your MultiCover insurance specialist can assist you in finding the right trauma policy for your need.
Did you know?
Bowel cancer is the most common internal cancer, with about 13,000 new cases diagnosed each year in Australia. Bowel cancer kills 80 Australians every week. The Top 4 Cancers that result in death are Lung Cancer, Bowel Cancer, Prostate Cancer and Breast Cancer.
The Chart illustrates the deaths from the most commonly occurring internal cancers in Australia, 2005
In New South Wales 40.5% of all cases of cancer are diagnosed between 30 and 64, and 57.7% are diagnosed at 65 years and over. source: Cancer Council, NSW.
Breast cancer and lung cancer are the two leading causes of cancer-related death in Australian women. Lung cancer claimed 65 more lives than breast cancer in 2006.
source: National Breast and Ovarian Cancer Centre.
Australian Heart Disease Statistics
- kills one Australian nearly every 11 minutes
- affects more than 3.4 million Australians
- prevents 1.4 million people from living a full life because of disability caused by the disease
- affects one in five Australians, and affects two out of three families
- responsible for 34% of all Australian deaths in 2008.
source: National Heart Foundation of Australia
Think MultiCover
Everyone is subject to personal risk and any strategy to lessen the impact should be based on the right products and provided through experienced professional advice.
Personal risk is the risk associated with an individual involving the loss of income or physical assets through an event such as an unforeseen death, major accident or major illness. When the risk is effectively transferred to an insurer it ensures that assets are protected and debts are cleared. The four major insurance products that enable this are:
- Family Life Insurance Cover
- Permanently Unable to Work Cover
- Trauma Insurance Cover Cover
- Income Protection Cover
Experienced professional advisers help identify your financial needs today and in the future, including your long term goals. This information is then used to provide recommendations on the type and combination of personal insurance products, and level of cover required.
A comprehensive personal risk assessment will identify the combination of insurance cover that best meets your need at rates better than can be gained through dealing directly with the insurance company. Should a life hazard occur, then there will be less concern over:
- Paying the mortgage or clearing the mortgage
- Paying the weekly rent
- Clearing outstanding debts
- Continuing the children’s education
- Keeping the family business running
- Covering any medical of funeral costs
- Supporting the ongoing household expenses
- Maintaining your assets & investments
- Managing the additional medical costs as a result of the injury or illness
- Modifying your home
- Funding a change of lifestyle
- Continuing to save for the future and still achieve your life goals
The insurance specialists have access to Australia’s major insurers. They can identify which policy conditions best meet your need at rates better than can be gained through dealing directly with the insurance company.
Want a better quote?
We stand by our products and services offering highly customised recommendations and competitive pricing. Give MultiCover a chance to better any quote you have already received. Simply request one of our insurance specialists call you back by completing the contact form or call 1300 930 092.
The secret to providing a better quote lies in having access to Australia’s top insurers and access to experienced insurance specialists. Each solution is customised to your financial and personal situation without adding the unnecessary ‘bells and whistles’. We provide you with alternatives and comparisons, and you make the decision.
All quotes are free and without obligation.
How much cover can I get?
You can tailor the benefit amount to suit your needs and budget. Benefits range up to $750,000 subject to age.
Why is its so important?
Serious Illness Cover has been designed to help fill the financial gap for you and your family if you were to suffer a serious illness. Serious Illness Cover is for more than just the main breadwinner. If a partner who takes care of the home and children is out of action, it can mean significant additional expenses to keep the household running, in addition to the rehabilitation and medical costs. Ask about joint benefits.
How do I know if I am eligible for the Serious Illness Cover?
You are eligible if you are an Australian residents and aged between 18 and 59.
I’m healthy, why would I need life insurance now?
If you wait until your health starts deteriorating then the cost of insurance could increase substantially and be harder to obtain. Generally once a Family Life Insurance policy is in place you can keep it for life providing you continue to pay your premiums. The benefit will not decrease as you get older, or due to changes to your health.
Will my premium increase?
The premium is calculated each year on the policy anniversary and is based on your age at that time, and the benefit level and plan you select. Premium rates are not guaranteed.
What is the difference between Income Cover, Unable to Work Cover and Trauma Insurance Cover?
- Income Cover provides regular income for the period a person is unable to work due to illness or injury.
- Unable to Work Cover is a lump sum payment aimed at providing ongoing financial support as a result of a total or permanent disablement.
- Trauma Insurance Cover is a lump sum payment aimed at providing ongoing financial support as a result of a diagnosed qualifying illness.
Are there any tax benefits?
In most cases your premium will not be tax deductible and tax will not be payable on any benefit paid under your policy. As the tax laws and their interpretation can change you should seek qualified professional advice in relation to your particular circumstances.
Is there a waiting period?
In most cases “accidental” types of traumas are covered immediately, although many insurers impose a waiting period (usually 90 days after the policy is accepted) for certain illnesses.
Do I have to be an Australian resident to apply?
Yes. Usually only persons with Australian permanent residency status or who are in the process of applying for permanent residency will be considered for insurance.
Can the cover be adjusted for inflation?
To help ensure that your level of insurance cover keeps up with increases in inflation your cover level can be automatically increased on each policy anniversary. The automatic increases stop at the policy anniversary after you reach age 65.
Does cover extend to other countries around the world?
Provided you are an Australian resident living in Australia and have no plans to relocate outside of Australia at the time of application you can have global cover 24/7. This is subject to the approval of your application.
