Would you have enough savings to cover your expenses if you were diagnosed with a serious illness, and you weren't able to work for a period of time?
1 in 3 Australians will be diagnosed with cancer in their lifetimes.
Cancer survival rates are improving every year, with 88% of women surviving breast cancer, and 88% of men surviving prostate cancer 1.
However, despite this positive shift, medical bills can be shockingly high, with the average total direct financial cost of cancer to a family coming to $115,000. This is a lot more than most people could readily afford, with the added burden of time off work and still maintaining your ongoing bills.
Trauma cover is designed to provide you a lump sum in the case of a sudden trauma event. Common types of trauma events are illnesses such as:
|Trauma Events include:|
Trauma cover pays out when an illness is medically diagnosed, giving you access to a lump sum amount to cover unexpected medical bills/costs/surgeon fees.
A lump sum to cover unexpected medical costs
There is no disability test that needs to be met, rather the life insured needs to meet the listed medical definition of the trauma event.
With one in three Australians being diagnosed with cancer in their lifetime, trauma cover could save you and your family from unnecessary financial stress in a time of uncertainty and worry.
Speaking with a financial adviser can ensure you get the right amount of trauma cover, based on your current and future needs. As life changes, you can review your cover to ensure that you still have adequate financial security for you and your family.
This gives you the freedom to focus on getting the right treatment and spending time with the people that matter most at this difficult time.