Trauma/Critical Illness Insurance
30 November 2020

Purpose: Trauma Insurance pays a tax free lump sum should the insured suffer a major illness such as heart attack, cancer or stroke. You can also insure your children should they also suffer a major illness. Depending on the insurer, trauma insurance can cover up to 60 major events.  Trauma Insurance can only be held outside superannuation.

Why should you have it? To provide replacement income should you not be able to work or pay for medical bills or existing debts.

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