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 much is enough?
How much trauma insurance you’ll need depends largely on your personal situation, but many people choose an amount that will help with debt reduction, medical expenses and ongoing household costs.
The right amount of cover means that in the event of serious illness or injury you’ll have funds available to:
- Reduce or eliminate mortgage and other debt
- Make home modifications or pay for rehabilitation
- Pay for medical and treatment costs
- Meet ongoing household expenses
- Fund a lifestyle change.
To discuss the level of trauma insurance that’s right for your situation, make an appointment with a Suncorp Financial Adviser.
What does it cost?
The cost of trauma insurance varies based on a range of factors including your age, gender, and the amount of cover you require. As an example, for the equivalent of $2.15 a day, a 45-year-old female nurse could buy a policy that pays a benefit of around $152,256*.
* Based on an Asteron Life Complete policy, stepped premium paid annually, Queensland resident.
Trauma insurance from Suncorp
Suncorp Financial Advisers can work with you to determine an appropriate level of cover for your needs. And because we undertake an assessment of your current situation and medical history, the insurance you’ll receive is likely to be more relevant and cost-effective.
To discuss your own insurance needs, please make a no-obligation appointment with a Suncorp Financial Adviser.
To find out more about trauma insurance from the Suncorp Group, please read the Asteron Life Complete Product Disclosure Statement.
This information is general advice and doesn't take into account your objectives, financial situation or needs. You should consider the Product Disclosure Statement and consider obtaining financial advice before making any decision about this product. This product is jointly issued by Suncorp Life & Superannuation Limited ABN 87 073 979 530 AFSL 229880 and Suncorp Portfolio Services Limited ABN 61 063 427 958 AFSL 237905 RSE L0002059. This product is not a bank deposit or other bank liability. Financial product advice is provided by representatives of Suncorp Financial Services Pty Limited ABN 50 010 844 621 AFSL 229885. Products and services are provided by different entities in the Suncorp Group and each entity is not responsible for, does not guarantee and is not liable in any respect for products or services of other Suncorp entities.