Trauma Insurance is designed to assist financially when the insured experiences a specified medical condition. Trauma insurance pays a lump sum benefit on diagnosis of a critical illness. In Australia, heart attack, stroke and cancer are the major causes of trauma insurance claims.
While different trauma insurance policies also cover conditions as diverse as deafness, muscular dystrophy, burns, hepatitis and major organ transplant, claims experience for most trauma insurers show that cardiovascular disease (CVD), such as heart attack and stroke, and the myriad of cancers are responsible for the majority of trauma insurance claims.
To claim on your Trauma insurance you do not have to die or be declared terminally ill, and nor do your earnings have to suffer as a result of the trauma. To claim on your policy you will need to meet the definition of a traumatic event as defined in the insurance policy.