Trauma Insurance is important because it can protect you and provide a financial benefit in the event of a prolonged injury or illness because it provides for you during hospitalisation, as well as a longer recovery process.
Trauma insurance is a lump sum payment which can be paid on diagnosis of the trauma and so differs to life insurance policies and health insurance which operate on temporary impairment. It is an insurance idea that started in the mid-90’s and has grown into a very useful type of insurance because it fills in gaps in other types of health-based insurance plans.
It is different to income protection as It is a lump-sum. It is pertinent to anyone who needs cover to protect against a longer-term injury or illness that traditional insurances are not prepared to cover and so through trauma insurance you can significantly reduce any gap in the payment and recovery time.
While health insurance can be very important for people, it is regulated by the federal government to some degree and it is only covering you while in hospital. Once you leave the majority of benefits and cover will cease and you will be left out of pocket
The National Disability Insurance Scheme (NDIS) is proof of how the government is attempting to respond to the cost to the system that these types of injuries can have. Having been set up to help the disadvantaged who couldn’t access compensation, the NDIS is something which will be able to work side-by-side with trauma insurance in order to make sure that you are covered in the best possible way in the event of a trauma.
As with any type of insurance policy you will need to ensure that you are aware of what is covered, and what is excluded. If you are looking for Insurance information in Brisbane and are interested in talking further about Trauma Insurance, than get in contact with Cover Plus today by calling Craig Shanley on 07 3368 2412 Or fill out the contact form below and we will contact you within 24 hours