Trauma insurance has as a number of different names depending upon the insurance company. It is commonly called trauma insurance, critical illness cover, medical emergency cover or recovery cover.

This type of insurance provides a lump sum payment in the event of you being diagnosed with one of a specified range of critical illnesses or injuries. The list of conditions covered is often optional and varies between companies, as do the definitions of those conditions. Some trauma benefits are subject to a ninety-day qualifying period.

Trauma insurance or crisis benefits are paid when a specific condition or event occurs, for example a heart attack, cancer, or a stroke. Unlike TPD or income protection, a lump sum trauma benefit is paid upon diagnosis – and survival – of the defined condition. This benefit gives the insured a financial boost when it is needed most – in a time of crisis. Having crisis cover in place allows you to plan for expenses and gives you every opportunity to recover, both physically and financially.