Remarkable advances in modern medicine mean more and more people are now surviving major traumas, such as heart attack, cancer, coronary artery surgery, etc. However, the recovery period and the cost of care associated with such illnesses normally place extreme financial strain on the person suffering the illness.
• 2 out of 5 people will suffer a critical illness before they reach 65. (General Cologne Life Re Australia 2002)
• 50,000 Australians have heart attacks every year. (Australian Institute of Health and Welfare and National Heart Foundation of Australia, Heart, Stroke and Vascular Diseases—Australian Facts 2004)
• A third of all men and a quarter of all women will be diagnosed with cancer in the first 75 years of life. (Australian Institute of Health and Welfare and Australasian Association of Cancer Registries 2004, Cancer in Australia 2001)
The relatively new form of insurance known as “trauma insurance” will pay a lump sum to the insured person upon diagnosis of one of a number of specified conditions. Such a payment helps our clients and their dependants to remain financially secure at a traumatic time. While the payment may be used in any way you like, you may wish to pay for medical expenses not covered by Medicare or your health fund, to clear any liabilities you may have, or to take care of bills and expenses.