Life Insurance – it’s not something anyone likes to think about. We know it’s important to protect our family and loved ones financial future should we die, but that’s the thing – it’s only payable on death. Or is it?
What some people don’t realise is that the term ‘life insurance’ encompasses many different products designed to protect you and your family from many of life’s challenges. One such product is TRAUMA cover.
WHAT IS TRAUMA COVER?
Trauma cover pays a lump-sum amount if you are diagnosed for the first time with a serious illness such as cancer, stroke, heart attack etc, or an accident such as paralysis, loss of limbs etc.
WHY DO YOU NEED IT?
The advances in modern medicine mean that you’re very likely to survive a major health problem, but the financial difficulties this can cause are huge.
Life changing health events can be sudden and will certainly impact the way you (and your family) live.
Although it’s hard to say exactly what costs you might face, or exactly how much they would be, it’s important to consider the financial ‘what-ifs?’
- What if I need time off work?
- How will I pay the mortgage?
- Am I getting the best treatment possible?
- How will I adapt to the financial limitations I now face?
Trauma cover gives you the freedom to make your own decisions in time of uncertainty.
HOW DOES IT WORK?
Like any lump-sum payment it’s up to you to decide what to spend the money on. Our Trauma clients have used their payments in many different ways to assist them on the road to recovery.
Here are some examples:
- Exploring alternative medical treatment options in NZ or overseas
- Subsidising lost income
- Paying for private and immediate medical treatment
- Paying off the mortgage to help lift the financial burden
- Going on holiday for rest, relaxation and quality time with family and loved ones