How does Trauma Insurance work?

What would happen if you were to be diagnosed with a debilitating illness, or suffered a major heart attack? Would your family be able to manage if you couldn’t work for an extended period during your treatment or rehabilitation?

Trauma Insurance, sometimes known as critical illness or recovery insurance, covers you in the event you are diagnosed with a serious listed medical condition. The Trauma benefit is paid as a lump sum that can help to cover the cost of ongoing therapy and any lifestyle changes that might be necessary to help manage your condition.

What conditions are covered?

The four main listed conditions, accounting for up to 90% of Trauma claims, are cancer, heart attack, coronary bypass surgery and stroke.

NobleOak Trauma Insurance also provides cover for another 34 trauma events, including medical conditions such as major brain injury, multiple sclerosis, Parkinson’s disease, blindness, paraplegia and dementia.

How much can I be covered for?

A one-off payment of up to $2 million, significantly more than most other direct insurers, will ensure you are able to pay for any treatment expenses not covered by Medicare or your health fund, and help make sure you get the best care available whilst you recover.

How can Trauma Insurance help?

If you suddenly suffered a heart attack or stroke, in addition to the time spent recovering in hospital you may also need to take extra time off work, or cut back your hours. On top of your lost income stream, many major traumas will require home modifications to cope with any changes to your mobility. Trauma Insurance helps to take the pressure off, so you can focus on recovering instead of worrying about your finances.

In the case of severely debilitating conditions, your partner might be forced to give up work to help look after you. Trauma Insurance can help to protect you financially in the event that both of you are unable to work.

Trauma Insurance can also be used to pay off any large debts, such as the mortgage, or go towards the cost of travelling interstate, or overseas, to access the best medical care. It could also go towards a stress-free holiday to help with your recovery.

Protection for your family

Suffering a critical illness or injury can be a life-changing event. Even if you make a full recovery, the financial impact can remain for many years. Many families may never fully recover financially. Trauma Insurance can help make sure your family’s finances remain intact.

Contact NobleOak on 1300 041 494 to discuss your Trauma Insurance needs.