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Risk Insurance

Trauma Insurance & TPD Insurance

What it does for you.

Trauma insurance offers financial protection in the event of a serious illness or disability, and depending on the policy, a full or partial payment may be made upon death.  Trauma policies cover only specified illnesses and disabilities. Generally people use them as a safety net to ensure that living expenses, as well as recovery care, is provided for, in the event of a major illness or disability without serious financial repercussions to the family.

A trauma insurance policy will pay a lump sum amount. These policies have become increasingly popular as medical advances have become more successful in saving people’s lives who suffer major illnesses and accidents. As well, the public has become increasingly aware of medical statistics and rising medical costs, including medical care.

Trauma cover is often bundled with a life insurance policy but they may be taken out as stand-alone cover.

Choosing trauma insurance that is right for you.

There is a range of trauma cover options available through insurance companies. Variables, such as conditions covered, amount of cover, costs, conversion to or upgrade of a life policy without further medical requirement, children’s trauma cover and waiting days can apply to different policies.

Trauma claims may only be made once, though a policy may allow you to increase the life insurance component of the policy. It is important that you and your family understand your insurance policy.

Total and Permanent Disability Insurance

What does it does for you.

This type of insurance product has been growing in popularity. Known as “TPD”, this policy may often be taken out as an extra on your life insurance.  The most usual purpose for TPD is to provide a lump sum payment if you suffer from some type of accident or illness that leaves you unable to continue in your usual occupation, or permanently disabled for purposed of working in your specific occupation.

Choosing a TPD cover that is right for you.

 Claims for TPD may only be made once, as a general rule for most products. When choosing the appropriate cover for you, you will also have to consider any impact a TPD cover may have on life policy that you are also taking out. TPD terms of coverage, price and effect on life policies differ from provider to provider.

We can assist you in choosing the most suitable TPD cover for you.