4,500 Reasons You Need Trauma Insurance

In 2013, more than $600m was paid to 4,500 Australians as a result of claims on their Trauma Insurance policy.

That’s 4,500 people who, with a little forethought and planning, have avoided the often catastrophic financial burden that accompanies accident or illness.

“It Won’t Happen To Me”

It is probably fair to say that most of these people thought that they would probably never need to claim on their Trauma Insurance, that “it would never happen to them”, even though statistics show that the likelihood of suffering an illness that is claimable under Trauma Insurance is not insignificant:

Did you know that one in every four Australians will suffer a serious illness during their working life?
That 33% of men and 25% of women will be diagnosed with one or more forms of cancer during their life?

The chart below shows the breakdown of Trauma Insurance claims in 2013. One would imagine that every one of these people would now be thanking their lucky stars that they decided to protect themselves and their family with Trauma or Critical Illness Insurance.

Cancer Continues To Cause Trauma

trauma insurance claims 2013
As can be seen, Cancer is by far the biggest cause of Trauma Insurance Claims. Whilst it is great news that cancer survival rates are continuing to increase, the financial cost of surviving cancer is not insignificant.

Can You Afford To Survive Survive Cancer?

The Cancer Council NSW estimates that women diagnosed with breast cancer can expect to incur more than $40,000 in lost productivity and other out-of-pocket expenses during their treatment. Added to that is the cost of a partner’s lost income due to time taken out of the workforce to care for their spouse and or children during the recovery period.

If next year you are one of the estimated 125,000 Australians that will be diagnosed with a form of cancer, can you afford the financial implications? Can you afford the many months that may be required in recovery? Can you meet the ongoing expenses that won’t be covered by Medicare or Private Health Insurance?

Trauma insurance or critical illness insurance pays a lump sum figure in the event that you suffer a serious illness, such as cancer, stroke or heart attack or have the misfortune to have a serious accident.

The funds received are not subject to income tax and can ensure that the plans you’ve made for yourself and your family will not suffer due to financial reasons.

To find out how you can protect yourself, your family and your future against hardship caused by accident or critical illness, contact the team at Make A Difference Insurance.

Cancer Council NSW