While most of our clients understand Death, Total and Permanent Disablement and Income Protection insurance (they speak for themselves!), many people don’t understand what Trauma insurance is, or how it can help them.
Trauma insurance (sometimes called Crisis Recovery) covers you for around 40 specified crisis events. It pays a benefit for things like diagnosis of cancer, heart attack, stroke and much more. Some events are more permanent like paraplegia or diagnosis of diseases like multiple sclerosis or parkinson’s.
I think about my own life and how it would change if I was diagnosed with cancer. Firstly I wouldn’t be able to do my part time job. That’s fine, right? I have income protection insurance! That replaces my income, but nothing else. I would want my husband to be able to come to my appointments and treatment, but time off work for him means no income – he isn’t eligible for income protection to look after me. I would want to be able to choose the best treatment I could afford. I would need help with my children. Medical bills add up quickly. And life goes on – you still have normal every day expenses. This is where Trauma insurance can help you and your family – it pays a benefit in addition to income protection insurance.
Life can be traumatic – it could happen to any one of us and if it’s you or your family, we want you to have choices about your treatment and who is around to support you at this time.
Contact Southern Cross Financial or your accountant at Optima Partners if you would like assistance in this area.