Trauma Cover Guide Australia

What is trauma cover?

Trauma cover is an insurance policy that pays out a lump sum if you’re diagnosed with a serious medical condition. Trauma insurance covers a wide range of conditions, including cancer, heart attack, stroke, and major organ transplant. Some of the most common conditions claimed upon for trauma cover in Australia are cancer, heart attack, and stroke. Conditions that are covered are listed under each insurance companies product disclosure statement.

What does trauma cover provide?

Trauma cover provides a financial safety net if you’re unable to work or need ongoing medical treatment as a result of a traumatic event.

What are the exclusions for trauma cover?

The exclusions for trauma cover vary by insurer, but typically include pre-existing conditions. Before accepting your policy, you will be made aware of any exclusions over and above those listed in the product disclosure statement.

How do I make a claim on my trauma insurance?

To make a claim on your trauma insurance, you will need to submit a claim form along with supporting documentation from your treating doctor.

How long does trauma cover last?

Trauma cover typically lasts until you’re 65 years old as long as you keep paying your policy premiums.

How do I decide on a lump sum amount for Trauma cover in Australia?

There is no one definitive answer to this question, as the amount of Trauma cover you will need will depend on your individual circumstances. However, some factors you may want to take into account include the cost of private medical treatment, any outstanding debts you have, and your current lifestyle.

Are their major differences between trauma cover policies in Australia?

There are a number of different types of trauma cover policies available in Australia, and the benefits and features of each policy can vary significantly. It is important to compare different policies before purchasing cover, to make sure that you are getting the policy that best meets your needs.

What is a partial claim for trauma cover in Australia?

A partial claim for trauma cover in Australia is a claim made by an insured person for benefits relating to a specified traumatic event, such as cancer, heart attack or stroke. The claim is typically made after the insured person has been diagnosed. A claim maybe partial paid according to the severity of the event. The terms and conditions for partial payments are listed in the relevant insurance companies PDS. You can ask Spotter Life’s team for a comparison of policies between insurance companies.

What do trauma cover payments usually get used on?

Some people use their trauma cover payments to cover unexpected costs associated with their treatment, such as travel costs or childcare. Others use the money to help with day-to-day living expenses while they recover. Some people choose to use their trauma cover payments to pay off debts or make lifestyle changes or to make necessary modifications on their houses.

Are there any other names for trauma cover in Australia?

Trauma cover is also known as critical illness insurance, crisis recovery or serious illness cover.

What is the difference between trauma cover and income protection?

Trauma cover is a type of insurance that pays a lump sum if you are diagnosed with a specified serious illness, while income protection pays a regular benefit if you are unable to work due to sickness or injury.

Trauma Cover

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Trauma Cover Insurance can be applied for by people between the ages of 17 and 59 and can cover you up until the age of 80 years old (after age 70, only Loss of Independent Existence is covered).

Trauma Cover pays a lump sum if the life insured survives for 14 days after the occurrence of one of a specified major medical conditions. Trauma Cover is available in conjunction with Life Cover or as a stand alone policy.

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Not all providers in the market are included in our comparisons. Also note, any information or advice given on our website is general. It hasn’t taken into account your objectives, financial situation or needs.

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