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Critical Illness / Trauma

Trauma insurance provides a lump sum payment to help you financially while you take time out to recover from a serious illness.

What is Trauma Insurance?

Trauma insurance provides a lump sum payment to help you financially while you take time out to recover from a serious illness. It is designed to pay out on diagnosis (or occurrence) of one of a list of specified serious medical conditions and procedures. Each insurance company maintains their own list, but they generally include serious medical conditions such as cancer, heart attack or stroke

How can Trauma Insurance help you

The lump sum payment can help you to:


  • Pay for the best treatment and care (including your rehabilitation)

  • Pay down your debt and relieve financial pressure

  • Afford home help or care

  • Fund the gap between what you earn and the 75% cover from income protection

  • Protect your family from having to exhaust their savings, sell assets or rely on Centrelink for assistance.

  • You’ll receive an ongoing monthly payment that will:


How can I pay for my Trauma Insurance?

Insurance policies can be paid from any direct debit or credit card accounts and in some cases by cheque. Trauma cover is unable to be funded from your superannuation account.

Stepped and Level Premiums

Stepped premiums are generally cheaper to begin with however will increase each year – These increases are due to CPI or 5% whichever is the greater and in the case of stepped a risk loading is applied on every policy anniversary normally on your birthday, or on the policy anniversary date. Therefore, the older you get the higher this risk loading becomes. So stepped premiums increase at an ever increasing percentage as you age making it unaffordable when you need it the most.

Stepped premiums are great for those who require an insurance policy for only a short time

Level premiums allow you to ‘lock-in’ your premium – If you select level premiums, the amount you pay will be based on the Life Insured’s age at the Plan start date and premiums will remain the same other than CPI increases on each anniversary date of the policy renewal. Your premium normally only increase if your Benefit Amount increases or policy modification.


This type of premium initially will be more expensive than stepped premium but can often result in greater savings over the long term. Most importantly, level premiums can ensure that your insurance cover remains affordable and sustainable when you need cover the most.

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