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What is trauma insurance?

With one in two Australian men and one in three Australian women expected to be diagnosed with cancer by the age of 851, many families are learning first-hand how an illness can interrupt their lives.

But should the worst occur, the home loan and school fees will still have to be paid – on top of medical expenses – while you work towards getting better. Trauma insurance can help you achieve this.

How does it work?

Trauma cover provides you with a lump-sum payment if you’re diagnosed with a specified medical condition – such as cancer or a stroke – undergo a specified medical procedure, or are seriously injured, as set out in the policy.

In most cases, once your claim has been approved, you’ll receive your lump sum without a waiting period. And you don’t have to be employed to receive the lump sum. So whether you’re working or not you’ll be able to recover without financial stress.

Trauma insurance is a safety net that can support your family while you get back on your feet.

If you’re a parent, you could consider getting your children insured too. If your child becomes ill or injured as set out in the policy, a lump sum could help relieve the burden of your child’s ongoing care.

As with any type of insurance, it’s important to understand how much insurance you need.

What about private health cover?

Private health cover will generally only help pay your hospital and medical bills, and possibly some rehabilitation expenses, depending on the extras cover you have.

A trauma insurance lump sum can help you meet expenses on top of this, such as additional medical costs, repaying your home loan and other debts, covering the costs of rehabilitation or any modifications you may need to make to your home, in the case of a serious illness or injury.

Make sure you get back on your feet

It’s easy to avoid thinking about challenging life experiences like an illness or injury. In fact, it feels better when we look on the bright side. But it’s possible to be positive and practical at the same time, by getting yourself insured for when you and your loved ones may really need it.


Please contact us about how trauma insurance could help you and your family.

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What you need to know

This information is provided by Invest Blue Pty Ltd (ABN 91 100 874 744). The information contained in this article is of general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regards to those matters and seek personal financial, tax and/or legal advice prior to acting on this information. Read our Financial Services Guide for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relations to products and services provided to you.