Trauma insurance is a fantastic way to protect yourself financially in the event of serious illness, but what exactly is it?

Also known as critical illness insurance, trauma insurance is designed to help you through a period of serious illness by paying a lump sum of money to you when you need it most.

When you suffer a serious illness or event such as a heart attack, stroke or caner, obviously there are major health and emotional issues in play, but you cannot ignore the very serious financial issues at play.

A serious medical event can result in enormous expenses being incurred.  Private medical insurance will help, but in most cases there will still be large out-of-pocket expenses to be paid.

Not only can trauma insurance help to ease the financial burden during such a stressful period, but it can also assist you in fighting and recovering from a major illness or condition.

Trauma insurance and the money that it provides to you can help you to obtain the best medical treatment and care in the world.

Travelling to Europe and staying there for months on end to be with the world’s leading medical professional for your condition would be out of the question financially for most Australians, but with trauma insurance this can become a reality.

Trauma insurance can cover medical expenses, lost income, travel and accommodation expenses for yourself and loved ones, mortgage repayments and any other worthwhile purpose that you choose.

Although trauma insurance is not yet as popular with Australians as over covers such as life insurance, income protection or TPD insurance, it is certainly a very important form of insurance and will no doubt grow in popularity as more Australians learn about its benefits.

For more information or to obtain trauma insurance quotes please contact James Gerrard, Financial Advisor in Sydney.