Trauma Cover (serious accidents and illnesses)
A serious accident, illness or condition such as cancer, heart attack, stroke etc can have a major effect on a family's ability to cope financially.
There may also be issues after recovery as to the ability to be able to continue in your current employment depending on the long term effects of the ailment.
Whilst Income Protection Insurance provides valuable regular income, it only pays a percentage of income lost and doesn't take into consideration any change in lifestyle and additional ongoing costs as a result of the ailment.
Repayment of debt and pre-funding children's education costs will make surviving on lower income easier.
Benefits usually included are
- Cover for dependant children
- CPI linked benefits
- Trauma buyback (means you get covered again at standard rates, conditions apply)
- Life Buy back (if accelerated)
- Comprehensive cover of at least 42 conditions
Trauma Insurance is designed to provide a one off lump sum payment, if you are diagnosed with one of 42+ major illnesses or conditions, and survive for 14 days.
Contact us today to discuss which trauma cover best suits your needs.
Kevin 021901919
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Frequently Asked Questions
- How much cover do I need?This varies for every person we deal with, the best thing to do is run through the simple planner we have developed.
You can get started right now by completing the simple enquiry form to the right hand side of this page. We will then come back to you with some additional questions that will help us to establish the amount of cover you need for your personal situation. - Who can apply?
Usually any New Zealand citizen, permanent resident, or people on a 2 year Work Visa can apply. - Am I covered if I'm out of the country?Life , Income Protection , Trauma and Total and Disablement cover, usually cover you anywhere in the world 24 hours a day, Health insurance only covers you for treatment in New Zealand.
Special conditions sometimes apply please check your policy wordings for full details. - My Insurance premiums are going up, is there an option to make the premiums level?Yes, you can now get level premiums for most benefits, call us for more information, we can probably convert existing cover without the need for further health questions.
- How likely am I to become disabled or pass away before age 65 ?Five in 10 males are likely to become disabled due to an illness or
accident before they turn 65, preventing them from working for at
least a month.1
Seven in 10 females are likely to become disabled due to an illness
or accident before they turn 65, preventing them from working for
at least a month. Of these, nearly a third will still be on claim 12
months later.1
One in nine men will be disabled and off work for more than
12 months before age 65.2
One in five women will be disabled and off work for more than12
months before age 65.2
Fifty-one per cent of males will suffer a critical illness before the
age of 70.3
Thirty-three per cent of females will suffer a critical illness before
the age of 70.3
Sources:
1 Davies Financial and Actuarial Limited
2 Insurance Alert, Winter 2000
3 GenRe LifeHealth Australia, 2005 - What does accelerated benefit mean?This means that when the benefit is paid out, it will reduce another benefit by the same amount (usually your life cover). This is common and helps reduce the overall cost of cover.
- What is a buy back benefit?Usually included with accelerated Trauma, serious illness, critical illness. This benefit allows you to get your Trauma cover reinstated after a period of time, usually 13 months, at the same rates and terms you were originally covered, minus the condition you have claimed for (conditions apply, read your policy wordings).
- What is a Life buy back benefit?A life buy back benefit is usually included when accellerated benefits are attached to a life insurance policy. When these benefits get paid out, the Life cover reduces by the same amount, the buy back benefit allows you to get that life cover back, at the same rates you were paying before you were diagnosed with the cancer or had a heart attack, stroke etc, (conditions apply please read your policy wordings).
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