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What to look for when choosing Trauma Insurance Policy

Last modified: 17 Mar 2015

Accidents and mishaps can occur at any time in one’s life. The unexpected emergencies and any traumatic event can land you and your family into deep financial crisis. Hence one must undertake proactive measures to keep one prepared for the crisis such that the loss may be minimized. Trauma insurance is one of the best ways to get financial protection in case one meets an accident or injury that leads one take a long time to recover from the same.

Traumatic events like Cancer, heart attack and stroke may not only require considerable expenses for proper recovery but may also render you unemployed for a long time. In such a case it is the trauma insurance alone that will see you and your family through the tough times. Based on your family size as well as your specific insurance needs and requirements you can select suitable trauma insurance in an assured way through a leading insurance service provider in Australia.

It would be the best to analyze one’s requirements and compare trauma insurance policies from leading Australian insurers. Selecting a suitable trauma insurance policy is always a matter of good choice and it will help one get an assured peace of mind. This is one of the best ways to meet with any contingency or traumatic event that you or any member of your family may be victim of.

A trauma insurance is quite different from a life insurance with the major difference being that the later pays you or your dependents in case of maturity or death while the former pays you while you are living. Trauma insurance thus covers the cost of your medical expenses on treatment and recovery from the trauma and thus lets you and your family be free from any financial stress or burden in case you find yourself unemployed while recovering from the trauma.

It is very important to know as the factors and points that should be taken care of while selecting trauma insurance.

Types of Trauma Insurance Cover

One can purchase trauma insurance as a separate entity or stand alone policy or it can come grouped with a standard life insurance policy as an extra addition. The later is the most affordable way to get accidental cover but one needs to check out the policy features and cover provided for various trauma cases with the life insurance companies. Most Life insurance companies in Australia will provide you different kinds of trauma coverage policy. These policies may include the following:

All these policies may vary in terms of the type and nature of trauma as well as the extent of cover they provide to the individual or a family. Hence one must carefully go through the features and all terms and conditions before selecting suitable trauma insurance in order to get the comprehensive coverage as well as the best value of money.

Before selecting the insurance policy it is commonly advised to look for the following:

Some important factors that will go on to determine the cost of adequate trauma insurance policy will be the insurer’s age, whether he or she smokes or not, insurer’s weight compared to height, one’s medical history and one’s family history. One must answer all questions relating to these matters truthfully as this will help in the seamless processing of the insurance claim. If any fact or information be hidden then that may lead to rejection of claim by the company.


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