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Trauma Insurance

Cancer. Stroke. Heart Disease.

Think it won’t happen to you? We hope you are right.

But it is worth protecting you and your family, just in case.

Trauma Insurance is insurance to help cover the immediate and longer term financial burdens of a serious illness. If you develop a serious illness or medical condition that is covered by your policy and your claim is approved, you will receive a one-off lump sum payment.

The medical conditions you are covered for will vary depending on your policy but could include heart attack, cancer, stroke, brain injury, diabetes, coma, paraplegia, quadriplegia, dementia and more.

It’s designed to protect you and your family from the financial burden that comes with a major illness or a medical condition. Along with medical expenses, your everyday living expenses continue and of course, need to be paid. This is when you can benefit from Trauma Insurance.

There are no restrictions on how the proceeds can be spent. Typically, the payment is used for out of pocket medical expenses and to provide a financial buffer. You can use the money to reduce debt, replace lost income, general day to day living expenses, modifications to your home or to create a financial buffer during a difficult time in life. Without having to worry about your family and the expenses, your focus can be on getting well and recovery.

Trauma Insurance is suitable for everyone, even if you don’t have a regular income. If you are the main income earner, then a Trauma policy will allow you to focus on recovery while any large, unexpected financial expenses are taken care of. Similarly, if you are a stay at home partner or parent, Trauma Insurance can assist by providing additional income to cover the costs of additional help in the home or childcare.

The payment you receive from your claim is not taxable and in many cases the premium can come directly from your superannuation. As there are variety of policy options it’s recommended that you speak with a Ricarmo Financial Group insurance specialist. They can discuss your individual situation and provide the best options for you and your family.

Ricarmo Financial Group also provide life insurance, income protection, and total and permanent disability (TPD) insurance.