Trauma Insurance – What Are The Major Causes of Trauma Insurance Claims?Trauma
Insurance is designed to assist financially when the insured
experiences a specified medical condition or 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.
The
Australian Institute of Health and Welfare (AIHW), estimated that 3.5
million Australians, or nearly 18% of the population, had CVD
conditions in 2004-05. This means that, for the average adult, the risk
of experiencing trauma from a CVD-related illness is quite high.
AIHW
projections for cancer suggest that new cases of cancer between 2002
and 2011 will affect roughly 33% of men and 25% of women, under the age
of 75. 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. It is essential that you understand these before you enter into
the insurance contract.
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is appropriate to your particular investment objectives, financial
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xLife Pty Ltd ASIC No. 305213 is a Corporate Authorised Representative of Milennium3 Financial Services Pty Ltd.
ABN 61 094 529 987 AFSL No. 244252
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