Trauma insurance is to provide much needed funds when a serious sickness or event occurs. We are living longer and medical technology is helping us live past the heart attack that would have killed us 30 years ago.
Trauma Insurance Cover
Dr Marius Barnard was South African born Cardiac Surgeon and he the creator of Trauma insurance.
Dr Barnard noticed that through advanced surgical procedures, his patients were surviving heart surgery and make a good recovery. But the financial strain on them was difficult. This was because their Life Insurance cover did not pay out because the patient/insured person did not die.
New life insurance policies issued today will normally pay out the life cover if the insured person is diagnosed as being terminally ill.
Trauma Cover is also known as Critical Illness Cover and a couple of other variation of names, but they are similar in benefits but not identical.
Purchasing Trauma Insurance
Life Insurance pays the insured amount if the insured person dies, but with trauma insurance policy wordings and definitions are as critical as the cover itself.
Some trauma policies only cover several conditions while others can cover up to 40 conditions, so seeking the right advice, cover and company is paramount to ensure that you get what you expect at claim time.
What can I use the money for?
You can use your Trauma Insurance payout for whatever you like such as;
- You can use it to accelerate your medical treatment by going for private care if you don’t have health insurance.
- Take a holiday and give yourself time to recover.
- Make home modifications if you needed to.
- Pay off debt and lead a less stressful work life.
- Use it to replace your household income for a period of time.
The money is yours to use as you see fit and it paid as a lump sum payment.
Are you looking for Trauma Insurance?
It’s our job as advisers to research and know the differences between the types of cover available. There are many variations of Trauma Insurance, so make sure you don’t get caught with cover sold over the sales counter where they only have one option. Make sure you contact us for the best cover you can get.
