Trauma Cover will pay a lump sum if you suffer for the first time, after the cover starts, from one of a number of Trauma Conditions. For Some Trauma conditions, a percentage of the lump sum is paid in advance on diagnosis. This benefit is available either in conjunction with Life Assurance Cover (accelerated benefit), where a claim will reduce the life cover, or on its own (standalone benefit).
Suffering a serious illness is devastating in any circumstances but the burden will be far greater if your financial security is also put at risk.
A person suffering from one of the four main critical illnesses (heart attack, heart disease, cancer or stroke) has a nearly 50% chance of surviving for up to 10 years beyond the critical incident. However, in many cases this involves a reduced working capacity and necessitates significant lifestyle changes and costs. A lump sum benefit can make a real difference in meeting these costs.
The lump sum can help reduce debt, pay for home modifications, provide additional care, create an investment fund to generate on going income or enable business ownership to be restructured, amongst other things. The purpose of the funds is entirely yours to decide.
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