Everyone has heard of life insurance and the benefits of having it are clear – if you die then a lump sum payment provides protection for your loved ones and your property. But have you thought about how you would manage if you suddenly develop a critical condition which you survive? Our improved medical technology means that the chances of surviving a serious illness are much better. However, that health condition can result in expenses which put extra strain on an already very stressful situation.

It is likely that you may know someone who has suffered a serious condition such as cancer, heart attack or stroke. If it was someone close to you, then you may have been aware that the stress of dealing with a traumatic change in health was made worse by the effect it had on their finances.

Dr Marius Barnard (brother of Dr Christian Barnard of the first heart transplant) helped pioneer this form of insurance. He recognised that “we are curing our patients physically but killing them financially”.

Trauma insurance pays out a lump sum amount if you are diagnosed with one of a list of specified serious conditions including, but not limited to, cancer, heart attack and stroke.

It provides up front funds to help meet expenses such as:
• medical expenses, (including travel for alternative treatments, private treatment to avoid hospital waiting lists, expensive medications);
• repayment or reduction of debts (mortgage, hire purchase, etc) so that you don’t have that extra worry;
• childcare costs;
• rehabilitation costs and occupational retraining;
• home nursing costs or homehelp;
• modifications to your home (e.g. wheelchair access, hoists, etc).
• replace lost
• prostheses/mobility appliances, etc.

You choose how you use the funds to make a stressful situation a little bit easier.