How Does Trauma Cover Help When Times Are Tough?

Trauma cover can help ease the financial burden when unexpected serious illness strikes. Unfortunately, the statistics say that most of us will suffer cancer or another serious illness before the age of 85. Yet most people are not financially protected against a loss of income, unexpected medical bills or ongoing rehabilitation costs. But trauma cover can help ease these burdens, here is how.

Trauma Cover is a living insurance

Trauma Cover is a wide-ranging insurance policy that exists to provide a security blanket against financial hardship in the event of serious illness or injury. Trauma cover can also be referred to as ‘living insurance’ as it provides a source of income/ lump sum on which to live when an insured person is diagnosed with a serious illness, or suffers a serious injury and survives, however trauma insurance claims do not have to be used to pay medical expenses, they can be used for home modifications if needed, holidays, getting ahead on the mortgage or anything that you may feel is suitable.

A wide-ranging cover

Trauma cover is intended to provide security against trauma and serious illness, and thus includes a variety of conditions, including cancer, heart attack, loss of sight, and many conditions/ events.

Perfect for those out of the workforce

Many retirees, stay-at-home-parents and others temporarily out of the workforce are not eligible for certain insurance policies, such as income protection, in the event of the onset of a serious illness or injury that would inhibit their ability to return to the workforce. Trauma cover is the perfect alternative as it provides a level of financial security not otherwise available as this insurance is not generally affected by employment status.

Further, trauma cover is most useful for those without an income. If they were to suffer an injury or serious illness, they would become a net deficit on the family’s accounts as their costs of medical care would need to be covered, as well as the new costs of childcare and general lifestyle. In such an example, income protection would not be available and would offer no assistance to a family in need.

Provides financial security

Trauma cover provides financial security when a life has been irreversibly changed and there is a great deal of doubt about many facets of life. The last thing you want to be worried about when you are lying on an operating table is how you are going to pay the rent in a month’s time.

No restrictions on money use

When a trauma insurance claim pays out following a diagnosis of an accepted condition or event, the proceeds are yours to do with what you will. The intent of this is to allow you to correctly identify the financial areas of your life that have suffered most due to the trauma, and to address those adequately. It is not for us to dictate your needs to you. 

Protect yourself and your family

You might think that it will never happen to you, but if serious injury or illness does strike, financial stress need not be your concern. With just a phone call to Tradecover Financial Services you can ensure you and your family’s financial security today.