Trauma insurance

To Our Valued Clients & Friends.

This week we will look at Trauma insurance.

Trauma insurance provides a lump sum payment if you suffer a serious, debilitating medical condition (specified in the policy) such as heart attack, cancer or stroke. Generally, you will receive the trauma benefit providing you survive for a set period after incurring the condition. Receiving a lump sum can help people cope with a traumatic event and deal with issues that may have to face such as:
• A change of employment to a less demanding role
• Servicing a mortgage and other debts
• Making home modifications if required
• Paying for medical expenses

Trauma Statistics:
• MALE Trauma Statistics – The Australian Bureau of Statistics commissioned a report entitled, “Year Book Australia 2002 – Health – Special Article – Chronic diseases and risk factors”. In this report, the top 10 causes of trauma that affect a male’s life (without immediately killing him) over the long term are:
o Ischemic heart disease
o Stroke
o Lung Cancer
o Chronic obstructive pulmonary disease – chronic bronchitis and emphysema
o Depression
o Road traffic accidents
o Diabetes mellitus
o Colorectal cancer
o Dementia
• FEMALE Trauma Statistics
o 1 in 4 women will contract cancer before the age of 75 (AIHW and Australasian Association of Cancer Registries, Cancer in Australia in 2001 & 2004)
o 1 in 11 Australian women is likely to have breast cancer (Cancer Council Australia)
o Every woman is at risk: only 5 to 10% of all breast cancers happen because of inherited mutations (Cancer Council Australia)
o In woman diagnosed with breast cancer in 2001:
 24% were aged 20 to 49
 49% were aged 50 to 69
 27% were aged 70 & over (AIHW and Australasian Association of Cancer Registries, Cancer in Australia in 2001 & 2004)
o Women have a 1 in 4 chance of suffering a critical illness between ages 30 & 64 (General Cologne Life Re Australia, 2002)
o Women have a 1 in 4 chance of suffering a mental illness before the age of 65 (IFSA Study 2005)
o After the age of 40, women have a 1 in 3 chance of suffering from heart disease (IFSA Study 2005)