Trauma insurance: Specified traumatic events

Written and accurate as at: 15 July 2021

Without an appropriate protection plan in place, an unexpected traumatic event could have a serious, immediate, and lasting financial impact on you and your loved ones.

For example, approximately 1 in 3 men and 1 in 4 women will be diagnosed with some type of cancer before age 75. And, the average lifetime cost of cancer is $126,280 for those aged 15 to 64.

If this or another traumatic event occurred to you, trauma insurance could help. A trauma insurance policy provides you with a lump-sum benefit payment if you were to suffer a specified traumatic event.

Depending on your personal circumstances, this lump-sum benefit payment could assist with debt reduction, lifestyle modification, living expenses for a period, and/or immediate and ongoing medical expenses.

In this animation, we illustrate specified traumatic events including, but not limited to, cancer, stroke and heart attack, which can be covered by a trauma insurance policy.