What happens when you survive a serious illness?
The diagnosis of a serious illness is devastating in any circumstances but the burden will be far greater if your financial security is also put at serious risk.
Trauma Insurance (Living Assurance) benefits you, your immediate family, your whanau and those that depend on you. It provides a lump sum benefit payable if you suffer one of over 40 defined trauma conditions and survive 14-days.
- There is a 1 in 3 chance of suffering a trauma event before you reach age 65
- 2 out of 5 men (40%) over age 30 will suffer a serious illness before age 65
- 1 out of 4 women (25%) over age 30 will suffer a serious illness before age 65
You can’t guarantee your health, but you can ensure you and your family are in a sound financial position to meet the associated costs of:
- A partner having to stay home to nurse you
- Debt and mortgage repayment
- Early retirement from the work force
- Time off work with no income
- Medical treatment & hospitalisation
- Overseas travel or treatment
- Supporting a business when you are unable to work
Dr Marius Barnard, famous cardiac surgeon, and brother of Dr Christian Barnard who first performed a heart transplant, suggested that claims experience showed that the three major reasons for considering Trauma Insurance are cancer, heart attack or stroke and that around 75% of people suffer from these within their lifetime. He went on to advocate for the creation of the critical illness cover that is now available.
Further statistics show 93% of all Trauma Insurance (Living Assurance) claims are for the following illnesses: cancer, heart attack, stroke, coronary artery Angioplasty and coronary by-pass surgery.
People need insurance not only because they are going to die, but because they are going to live
Dr. Marius Barnard, Inventor of Critical Illness Cover
Trauma Conditions and Policy Wording
Not all policies are the same and some polices cover a limited number of trauma conditions.
Understanding the ‘benefits and definitions’ of an insurance policy is an essential component to consider when choosing any insurance policy.
Policies from Sovereign, Asteron, Fidelity Life and Partners Life, for example, can differ by as many as 10 or more trauma conditions.
The cost of any policy should be considered against the coverage it provides in the event of claim and the number of conditions that it might cover.
Get a Quote
Your LIFE-TIME Financial Advisors will automatically provide a multi-company premium Quotation Summary with a recommendation, supported by two sources of purchased independent research to compare what you really get for your money.
Your LIFE-TIME Authorised Financial Adviser or Registered Financial Adviser can interpret the wording and provide you with unbiased advice that is best for your personal circumstance. It’s too late at claim time to learn your policy wording is inferior.
Enquire about Insurance
Please contact us below for a no obligation recommendation and multi-company premium quotation summary or go to the ‘Individual Financial Health Check’ and complete the section on Medical Insurance as well as your contact details.