This type of insurance will pay out a lump sum amount in the event of you suffering one of the specified trauma/critical illness events specified in a particular insurance company’s product disclosure statement.

There are usually between 35-45 different trauma/critical illness events covered and they are in the areas of heart conditions, stroke, cancer and neurological diseases.

When someone has suffered from a trauma/critical illness they generally may be able to go back to work within 2 to 3 years, therefore when looking at amounts of trauma/critical illness cover, things you might want to take into account are;

  • Providing for 2 to 3 years of debt maintenance
  • Providing for 2 to 3 years of educational/childcare expenses for your children
  • Providing for incidental and medical expenses not covered by private health insurance

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This information provided on this website has been provided as general advice only. We have not considered your financial circumstances, needs or objectives and you should seek the assistance of your Professional Investment Services (PIS) Authorised Representative before you make any decision regarding any products mentioned in this communication. Whilst all care has been taken in the preparation of this material, no warranty is given in respect of the information provided and accordingly neither Professional Investment Services nor its related entities, employees or agents shall be liable on any ground whatsoever with respect to decisions or actions taken as a result of you acting upon such information.