Insurance

Trauma Cover Insurance

Definition of Trauma Cover Insurance

Trauma Cover Insurance pays a lump sum in the event of a diagnosis of incurable condition, e.g. cancer, stroke, heart attack, major head injuries.

Women very underinsured

Traditionally, families have only insured the main breadwinner in their household. This trend did not recognise financially the value that a stay-at-home parent contributes to a home. In financial terms, the non-paid work of house-keeping, child rearing, cooking and all the other domestic duties require to keep a house running were effectively ignored.

Press Release - Underinsurance threatening the lifestyles of most working Australians

While most people go to great efforts to insure their home, contents and cars, very few protect their families and lifestyles through life and income protection insurance.

A 2004 Newspoll study reveals that 31% of Australian adults aged 18-59 are without life insurance.