Trauma Insurances
Trauma Insurance
Trauma insurance cover is something that you arrange for the protection of your financial situation, if you are diagnosed with a nasty traumatic health condition.
Trauma insurance anticipates that you are going to live through that health condition, and is designed to provide you with the funds to get through, without adding financial stress to the stress of your traumatic health situation.
The most common payments made for trauma insurance cover are for heart attack, cancer and stroke. Trauma insurance is also sometimes called Critical Care Insurance, Vital Care Insurance or Living Assurance.
With Trauma insurance, you select the sum that you want to be insured for,
and it will be paid out if you are diagnosed with that traumatic condition.
All trauma insurance policies are NOT created equal
Trauma insurance is a more complicated product than life insurance.
There is a wide difference between the quality of insurance cover. Some cheap policies only give you cover for five or six conditions. The better quality insurance covers can cover over 38 conditions.
In addition, the actual wording of the policy is different between each insurance company. So there may well be a difference as to how sick you actually have to be before your trauma insurance policy will pay out.
It is important to make sure that you are getting the best value for your money, which is where our analysis and research will assist you.
How much trauma insurance cover do I need?
- Other insurance cover that you have in place (eg income protection insurance)
- The amount of debt that you have
- Whether there are two incomes in the family
How do we help you with your Trauma Insurance?
After talking with you, we research all the options available to you, to find the trauma insurance that is most suitable for you. This takes into account your criteria, whether that is best quality cover, or best cost cover for your needs.
We then assist you to get that insurance cover in place with the least possible hassle to you.
After the insurance is in place, we will keep in touch with you, to answer any queries that you have about your insurance cover. If you have a claim, we are here to assist you with that process, to reduce the stress on you.
How do we help you with your Trauma Insurance?
After talking with you, we research all the options available to you, to find the trauma insurance that is most suitable for you. This takes into account your criteria, whether that is best quality cover, or best cost cover for your needs.
We then assist you to get that insurance cover in place with the least possible hassle to you.
After the insurance is in place, we will keep in touch with you, to answer any queries that you have about your insurance cover. If you have a claim, we are here to assist you with that process, to reduce the stress on you.
What do I need to be aware of with my trauma insurance?
Your trauma insurance policy will only pay out when you suffer a trauma if:
- Your premiums are paid and up to date.
- You have disclosed everything relevant at the time that you apply for the trauma insurance cover.
- You are past the stand down period for some conditions on your policy. This is often 3 or 6 months, and usually applies to things like cancer, stroke, heart attack (so that you don’t apply to put the cover in place because you think there is something wrong with you.)
- There are two types of trauma insurance cover – Accelerated – which is part of the life insurance, and if it is paid out, your life insurance cover reduces in value by the amount paid out, and Stand Alone, which is separate to your life insurance cover.
Trauma Insurance Case Studies
Moneyworks have had a number of clients who have successfully claimed on their trauma insurance cover, and recovered from their illness and gone on to have happy and healthy lives. A number have commented on how the trauma insurance payment has reduced the stress while they were dealing with their ill-health. Some of the actual payments that our clients have received are:
| Sex | Approximate Age | Condition | Approximate Amount |
| Female | 42 | Breast Cancer | $195,000 |
| Female | 46 | Breast Cancer | $260,000 |
| Female | 52 | Pancreatic Cancer | $180,000 |
| Male | 38 | Cancer | $190,000 |
| Male | 48 | Motor Neurone Disease | $58,000 |
| Male | 52 | Prostate Cancer | $85,000 |
| Male | 63 | Parkinsons Disease | $66,000 |
| Female | 37 | Cancer | $300,000+ |
Moneyworks NZ Ltd
P: 0800 225 621
E: contact@moneyworks.co.nz
P O Box 1003, Cambridge 3450
Licensed Financial Advice Provider - FSP 15281
Regulatory Information: Moneyworks is a Licensed Financial Advice Provider (FSP15281), and AML Reporting Entity and is supervised by the Financial Markets Authority.