Having trauma insurance will give you peace of mind that if you develop some disease or suffer a traumatic event then you don’t have to suffer financially.
These days when it seems that serious illness and disease affect more people than ever, getting trauma insurance is a wise decision. Trauma insurance covers you in the event that you suffer from or are diagnosed with a critical and serious illness such as cancer, or have a stroke or heart attack. Of course it covers much more than just those few diseases; however the basic trauma insurance covers fewer diseases – only about five or six, while the more comprehensive – and dearer – ones cover many diseases and even traumatic events such as major burns and loss of limbs.
Trauma insurance policies differ in what diseases are covered and if you happen to be struck down by a disease that is not mentioned in your policy, then you will not be paid. Therefore it is important to assess your risk of getting certain diseases. For instance, if a specific disease runs in your family you will want to ensure that it is included in the trauma insurance policy that you choose.
You don’t have to die for trauma insurance to be paid; it will be paid either on diagnosis or on surviving the first few weeks of becoming ill – e.g. if you have a heart attack or stroke. By comparison, life insurance can only be paid out if you die.
You don’t have to have trauma insurance as a stand-alone policy, but can combine it with life or other insurances. Since most insurance companies will not insure you once you’ve been the recipient of one payout, it is wise to get a combined insurance policy while you are young.
When you think of the statistics that tell us the chances of a woman developing heart disease by age 40 is one in three and for a male one in two, then you will see that trauma insurance is an essential means of financial protection.