"I'm making sure my family doesn't suffer if I experience a serious injury."

"I'm making sure my family doesn't suffer if I experience a serious injury."

Trauma Insurance

I’m removing financial uncertainty.

Having trauma insurance can help relieve your financial worries and allow you to focus on your recovery after suffering a traumatic injury.

What is Trauma cover?
Trauma cover pays an agreed lump sum if you suffer a serious illness or injury that is covered in the plan you take out. The lump-sum payment can help you make the adjustments to your lifestyle that you may want or need to make after suffering a traumatic event.
Why would I need it?
Nobody likes to think about the possibility of suffering a serious illness or injury, but you can make plans to help support yourself should the unexpected happen. Trauma cover can provide you with some comfort, knowing that if something does happen, you will have money to help you recover. As advances in medicine and technology continue, there are a number of illnesses that are being picked up earlier than they previously would have. This does, however, mean that more people are both suffering from, but surviving these events in comparison to the past enabling them to utilise their Trauma Insurance plan to assist with their recovery and the impact of their illness on their lives.
What if I just risk it?
Many people decide not to take out insurance, because they believe ‘it’s too expensive’ or ‘it won’t happen to me’. Before making a decision it is worthwhile having a look at some of the most common medical ailments suffered by Australians: – One in two Australian men and one in three Australian women will be diagnosed with cancer before they are 85.1 – Cancer is a leading cause of death in Australia—more than 43,700 people are estimated to have died from cancer in 2011.2 – Ischaemic heart disease was the leading cause of death for both males and females in 2011, followed by Cerebrovascular diseases and Dementia and Alzheimer’s disease.3 – An estimated 275 Australians develop type 2 diabetes every day, with the number of Australians diagnosed with diabetes expected to grow to 3.5 million by 2033.4
Can I take out Trauma cover if I am not working?
Yes, you can take out Trauma cover when you’re not working. This is because the payment of any claim is based on you suffering one of the trauma conditions listed in the plan, rather than your ability to work at the time of taking out the policy.
What conditions will I be covered for?
You should check the relevant Product Disclosure Statement (PDS) to see what conditions you are covered for. Trauma cover will normally cover the most common trauma conditions like cancer, stroke, heart attack and coronary artery surgery. Talk to your financial planner about the different eligibility criteria required across the industry. This will help you understand when you will be eligible to make a claim.
1 Australian Institute of Health and Welfare, Australia’s Health 2013. 2 cancer.org.au/about-cancer/what-is-cancer/facts-and-figures.html 3 Australian Institute of Health and Welfare (21 June 2013), Media release: Health report card shows a nation where most are healthy, but lifestyle challenges ahead. 4 Diabetes Australia (2013), Diabetes National Election Agenda 2013–2015: Type 2 Diabetes – The 21st Century Pandemic.
What is Trauma cover?
Trauma cover pays an agreed lump sum if you suffer a serious illness or injury that is covered in the plan you take out. The lump-sum payment can help you make the adjustments to your lifestyle that you may want or need to make after suffering a traumatic event.
Why would I need it?
Nobody likes to think about the possibility of suffering a serious illness or injury, but you can make plans to help support yourself should the unexpected happen. Trauma cover can provide you with some comfort, knowing that if something does happen, you will have money to help you recover. As advances in medicine and technology continue, there are a number of illnesses that are being picked up earlier than they previously would have. This does, however, mean that more people are both suffering from, but surviving these events in comparison to the past enabling them to utilise their Trauma Insurance plan to assist with their recovery and the impact of their illness on their lives.
What if I just risk it?
Many people decide not to take out insurance, because they believe ‘it’s too expensive’ or ‘it won’t happen to me’. Before making a decision it is worthwhile having a look at some of the most common medical ailments suffered by Australians: – One in two Australian men and one in three Australian women will be diagnosed with cancer before they are 85.1 – Cancer is a leading cause of death in Australia—more than 43,700 people are estimated to have died from cancer in 2011.2 – Ischaemic heart disease was the leading cause of death for both males and females in 2011, followed by Cerebrovascular diseases and Dementia and Alzheimer’s disease.3 – An estimated 275 Australians develop type 2 diabetes every day, with the number of Australians diagnosed with diabetes expected to grow to 3.5 million by 2033.4
Can I take out Trauma cover if I am not working?
Yes, you can take out Trauma cover when you’re not working. This is because the payment of any claim is based on you suffering one of the trauma conditions listed in the plan, rather than your ability to work at the time of taking out the policy.
What conditions will I be covered for?
You should check the relevant Product Disclosure Statement (PDS) to see what conditions you are covered for. Trauma cover will normally cover the most common trauma conditions like cancer, stroke, heart attack and coronary artery surgery. Talk to your financial planner about the different eligibility criteria required across the industry. This will help you understand when you will be eligible to make a claim.
1 Australian Institute of Health and Welfare, Australia’s Health 2013. 2 cancer.org.au/about-cancer/what-is-cancer/facts-and-figures.html 3 Australian Institute of Health and Welfare (21 June 2013), Media release: Health report card shows a nation where most are healthy, but lifestyle challenges ahead. 4 Diabetes Australia (2013), Diabetes National Election Agenda 2013–2015: Type 2 Diabetes – The 21st Century Pandemic.

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"I'm deciding whether to save or invest..."

Financial Planning and SMSF
with Roy Mcleod

"I'm protecting my business assets..."

Business and Asset Protection
with Trudy-Ann King

Any advice provided by TIME Partners and TIME Insurance Solutions detailed above is provided independently of TIME Wealth Protection and our Licensee, Charter Financial Planning. Neither TIME Wealth Protection, nor Charter Financial Planning take any responsibility for any actions or service they provide.