Trauma insurance for serious health events
Trauma insurance, also called critical illness cover, pays a lump sum if you're diagnosed with a listed serious illness or injury, such as some cancers, heart attack or stroke.
- A lump sum on diagnosis of a listed condition
- Use the money however you need
- Held outside super and paid out of pocket
You'll be contacted to prepare your quotes.
Trauma insurance at a glance
What it is
A lump sum paid if you're diagnosed with, or undergo, one of the medical events listed in your policy, as the policy defines it.
Outside super only
New trauma cover can't be held inside super (since 1 July 2014), so it's held and paid for outside super.
Things to know
Each policy has its own list of covered conditions and definitions. Some conditions are only covered at a certain severity.
What a trauma payment can help with
Recovering from a serious illness can take time, and costs don't stop while you do. People commonly use a trauma payment towards:
- Time off work for treatment and recovery
- Medical costs not covered by Medicare or private health insurance
- Reducing debts while you recover
- Support for a partner who takes time off to care for you
- Changes to your home or the way you live
You choose how much cover to ask for. We don't give personal advice. If you'd like personal advice, we can refer you to the insurer that issues the cover.
Trauma features to ask about
Covered conditions
Policies list the conditions they cover and define each one. Cancer, heart attack and stroke are among the most commonly claimed.
Partial payments
Some policies pay part of the benefit for less severe conditions, such as some early-stage cancers.
Survival period
Some policies require you to survive a short period after diagnosis, for example 14 days, before the benefit is paid.
Linking to life cover
Trauma cover can be held on its own or linked to life cover. Linking can change how a claim affects your other cover.
Paid for out of pocket
New trauma cover can't be held inside super (since 1 July 2014).
Why not through super?
Super law only lets money leave super in certain situations, called conditions of release. A trauma diagnosis on its own isn't one of them, so since 1 July 2014 new trauma cover can't be held inside super. You can still hold trauma cover outside super alongside any life or TPD cover you hold in super.
Out of pocket
- You pay premiums from your own money
- The benefit is paid directly to you
- Payments to the person insured are generally not taxed
- Premiums are generally not tax-deductible
General information only. Funds and insurers set their own terms, and tax depends on your circumstances. Speak with a registered tax agent about tax.
Getting started takes three steps
You'll be contacted to prepare your quotes. Nothing to pay to ask.
Ask for a quote
Tell us which cover you'd like and how much cover you want, then add your name, mobile and email. It takes about two minutes, with no health questions.
You're contacted
You'll be contacted to confirm the cover and amounts you'd like, and your quotes are prepared.
Apply if you're ready
If you decide to go ahead, the business that prepared your quotes, or the insurer, will explain how to apply. The insurer assesses your application and issues the policy.
Trauma insurance FAQs
Is trauma insurance the same as private health insurance?
No. Private health insurance helps with hospital and some treatment costs. Trauma insurance pays a lump sum that you can use however you need.
Why can't I pay for trauma cover through my super?
Super law only lets money leave super in certain situations, called conditions of release. A trauma diagnosis on its own isn't one of them, so since 1 July 2014 new trauma cover can't be held inside super.
Which conditions are covered?
It depends on the policy. The PDS lists every covered condition and how it's defined. Ask the business that contacts you, or the insurer, for the PDS of any policy you're quoted on.
Can I claim more than once?
Some policies offer options to reinstate cover or make more than one claim. Check the PDS for the policy you're considering.
Is there a waiting period?
Many policies don't cover some conditions, such as certain cancers and heart conditions, if symptoms or diagnosis occur in the first 90 days of cover. Check the PDS for the details.
Start the conversation today
It takes about two minutes. You'll be contacted to prepare your quotes. There's no cost to ask, and no obligation to go ahead.
Get a quote