Trauma Insurance

Trauma insurance cover in Australia is designed to protect you in the event that you are diagnosed with a serious medical condition or disease such as heart attack, stroke or cancer. Trauma insurance is also commonly known as critical illness insurance and pays a lump sum upon medical diagnosis of a condition or disease as defined in an insurers product disclosure statement (PDS).

How does trauma insurance cover work?

If you have trauma cover in place you are entitled to a benefit payment when you meet the definition of a traumatic event as outlined in the trauma insurance policy of your current life insurer. Depending on an insurer’s policy, a claim can be made after 14 days of surviving a traumatic event; however this time frame can vary from company to company. After these conditions are confirmed, you are paid either a lump sum or partial payment depending on the terms and conditions as outlined in your product disclosure statement (PDS), and which traumatic event you have suffered.

Who should have trauma cover?

Trauma insurance is a vital part of any risk insurance plan, regardless of whether you are the main income earner or not. We always recommend everyone consider the trauma insurance option.

How much does trauma cover cost?

The cost of this cover will depend on a number of factors. These factors are usually based on the following:

  • Smoking status; and
  • Age
  • Gender

If you already suffer from a medical condition or disease, your insurer may decide to place a loading on your premiums, which will result in a higher cost.

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Enquire about our comprehensive Life Insurance and Income Protection options. Please contact a Knightcorp Financial Advisor to discuss your details further.

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Knightcorp Financial Services Pty Limited ABN 44 154 765 054 is a Corporate Authorised Representative (No. 418807) of ClearView Financial Advice Pty Limited ABN 89 133 593 012 AFS Licence No. 331367 GPO Box 4232 Sydney NSW 2001

Knightcorp Financial Services Pty Limited ABN 44 154 765 054, is a Corporate Authorised Representative to provide financial advice services only under ClearView Financial Advice Pty Ltd ABN 89 133 593 012, AFSL No. 331367. All other services provided by Knightcorp and their related entities are not the responsibility of, nor endorsed by Matrix and this includes related services provided by referral partners or associated professionals.

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This website is intended to provide general information only and the information has been prepared without taking into account any particular person's objectives, financial situation or needs. Before acting on such information, you should consider the appropriateness of the information having regard to your personal objectives, financial situation or needs. In particular, you should seek independent financial advice and you should read the relevant Product Disclosure Statement (PDS) before making any decision about a product.

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