Insuring Against an Unthinkable Diagnosis

Trauma insurance can protect you in the case of an extreme accident or illness. Unlike life insurance, this type of coverage is about covering the medical expenses that come with being seriously or critically ill. Serious illness may be something most of us prefer not to think about but it may be worthwhile protecting you and your family.

While many of us think about getting home insurance or contents insurance it is easy to forget to insure yourself against the unthinkable.

What are some of the costs of being injured or seriously ill?

  • Medical expenses are the obvious one with more visits to the doctor as well as specialists and possibly even surgery and other procedures.
  • Housing costs will continue when you are ill and if you are not covered your family will have to pay.
  • Food bills will also have to be covered and you may end up being on special diets depending on your diagnosis.
  • Along with all of this you still have electricity, phone and any other bills that need to be paid regularly.

With this small list of examples you can begin to see how being diagnosed with a serious illness will dramatically increase your costs of living. Not only will you be paying for everything from before your diagnosis but you may also have to pay for medications and treatment. This can add tens of thousands of dollars to your yearly expenses not to mention the stress to you and your family.

Why Trauma Insurance?

Trauma insurance (or critical injury insurance) seeks to protect against the above concerns and costs that can arise in the case of a very serious accident or diagnosis of a terminal illness such as cancer. The main idea for trauma insurance is to provide an additional safety net in case the worst should happen. While there are increasing amounts of people accessing income protection insurance this type of coverage will not directly help pay for treating your illness or injury.

What's the Worst That Can Happen?

It is easier to ignore the worst that might happen to you but simple and cost effective coverage through an insurance company can give you peace of mind. So what kinds of incidents and illnesses are usually covered by trauma insurance?

  • A range of heart problems including heart attacks.
  • Various forms of cancer.
  • Falling into a coma.
  • Dementia.
  • Various organ transplants.
  • Quadriplegia and paraplegia.
  • Extreme burns.

Depending on your insurance company the type of coverage that is provided in case of extreme trauma will vary. In all cases a list of eligible conditions and accidents will be available. Be sure to check exactly what you will be covered for when you purchase any types of insurance.

Alternatives and Complements to Trauma Insurance

While there is no real alternative to trauma insurance there are other types of coverage that can compliment it. To provide complete piece of mind you may want to look at enquiring about life, income protection as well as other types of insurance. Insurance is all about protecting yourself from the unforeseen and even the unimaginable and so it helps to have that financial assurance in place just in case.

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