Trauma Insurance
Also known as critical illness insurance, trauma insurance provides a lump sum payment if you’re diagnosed with a specific illness or injury covered by the policy. These funds can be used to reduce debts, pay for medical expenses and fund your lifestyle, while you’re on the road to recovery.
Learn More About Trauma Insurance
1. What is Trauma Insurance?
Trauma insurance is a policy that provides a lump-sum payment upon the diagnosis of specific critical illnesses, serious injuries or medical conditions. It provides immediate financial assistance during tough times for you and your family, making it a valuable layer of financial protection, above and beyond health, life and TPD insurances.
2. What Does Trauma Insurance Cover?
Trauma insurance typically covers major illnesses like cancer, heart attack, stroke, and head injuries. Payments will be provided upon diagnosis of a medical condition listed under the policy. Generally, trauma insurance doesn't cover mental health conditions.
3. Is Trauma Insurance Tax Deductible?
Trauma insurance premiums are generally not tax-deductible for individuals. But, successful claims are paid upon diagnosis and are generally tax free in your pocket!
4. Do I Need Trauma Insurance?
Whether you need trauma insurance depends on your health, finances, and responsibilities. It can be expensive (our advisors will help you secure the best policy at the best price) but it provides financial security by covering medical expenses and offering peace of mind. It can include benefits like equipment, specialist therapy, and loss of income during illness, which health insurance may not offer. Consulting our advisors can help you make an informed decision.
