Trauma Insurance Companies
23 May 2012
There are dozens of insurance companies offering trauma insurance in Australia.
Whilst there are plenty of providers, it is important to remember that the policies issued by each provider are different, and in some cases they even have different names.
In today's guide we won't attempt to explain the policies offered by each company, but we will do a run through of some of the main providers.
Macquarie Life offer a standard trauma insurance policy, however they also have another product known as Life Active which incorporates trauma cover.
The Life Active policy is interesting as it combines life, TPD and trauma cover into a single policy designed to cover a greater range of conditions than if the policies were help separately.
The trauma insurance policy offered by Comminsure covers a large range of conditions and is available with a range of different options.
One of the unique options available through Comminsure is the Evidence of Severity option, which provides a more limited form of cover in return for a reduced premium.
Asteron trauma insurance provides cover for over forty different conditions.
The policy is available with a number of options including child trauma cover and the Trauma Booster Option which can boost a claim payout by up to 25% for certain claims.
Unlike most insurance companies which use the trauma name, AIA refer to their cover as Crisis Recover Insurance.
This is quite an appropriate name, as that is one of the main benefits of trauma insurance - it helps you to recover financially from a medical crisis.
AMP offer two different trauma insurance policies. The first is through their Flexible Lifetime package, and the second is through their Elevate offering.
As with a number of other insurance providers, AMP offer a option to include trauma cover for the children of a policy holder.
Choosing a Trauma Insurance Provider
Selecting an insurance company for your trauma policy isn't as easy as choosing the cheapest quote.
Of course price is important since we all want the best value for our money, however it is also important to ensure that any policy you choose is going to meet your needs and objectives.
All trauma insurance policies are definitely not the same, so it is important to do your own homework or rely on the services of a qualified financial adviser who can assist you.
The information provided above was accurate at the time of writing but is subject to change. It has been put together as a very basic guide and does not take into account your personal needs or objectives.
There are many more insurers offering trauma cover than those who we have listed above. For a more comprehensive selection you should speak with your adviser or do some research on Google by simply searching for the term trauma insurance.