If the heart attack or the cancer doesn’t kill you then your life insurance will not trigger a claim. You may be at home unable to work with no income. In the early 70s a South African heart surgeon performed the first heart transplant. See an article below from the New York Times in 2002.

Dr. Christiaan N. Barnard first heart transplant patient, Louis Washkansky, lived only 18 days, though his second, Dr. Philip Blaiberg, lived more than 19 months. A medical circus followed as surgeons elsewhere tried the experimental operation with little success.

Then with the development of more powerful antirejection drugs and additional experience, the heart transplant operation became standard. It has been performed an estimated 100,000 times around the world. Today the procedure is carried out in 160 hospitals in the United States alone, with a one-year success rate of 85 to 90 percent and a five-year success rate of 75 percent. NY Times

Christiaans brother saw what was happening to his brother’s patients, he was saving and prolonging their lives but financially they were crippled.

He designed the very first Trauma or Critical Illness product.

This product will deliver a bag full of money to you when you need it most. When your world has been dramatically effected by an illness. The money won’t fix you but it will alleviate a lot of financial stress and we know how stress affects health. Don’t we?

Money can also be used to ensure the best treatments that are available onshore or off shore are available to you.

The original policies typically covered around 14 different health events. The modern ones today cover between 48 and 63 events.

FoxPlan can show you the options in the market place and make it fit your budget.

Remember the cost of the solution is minimal in comparison to the cost of the problem.

 

Trauma or Critical Illness insurance provides a cash lump sum on the diagnosis of a medical condition. The number of conditions covered (benefits) varies widely, cheaper policies often offering fewer benefits.

The most common claims under these policies are for: cancer, heart attack, coronary bypass and stroke, although other conditions can be covered.

List of common Trauma’s that can be covered
Alzheimer’s Disease	Aplastic Anaemia	Blindness
Burns – Server/Major	Cancer	Cardiomyopathy
Coma	Coronary Artery Angio	Coronary Bypass Surgery
Deafness	Dementia	Diplegia
Encephalitis	Heart Attack	Heart Valve Surgery
Hemiplegia	HIV – Occupational Acquired	Kidney Failure – Chronic
Liver Disease – Chronic	Loss of Independence Existence	Loss of Limbs or Eye
Loss of Speech	Lung Disease – Chronic	Major Head Trauma
Major Organ Transplant	Motor Neurone Disease	Multiple Sclerosis
Paraplegia	Parkinsons’s Disease	Pulmonary Hypertension
Quadriplegia	Stroke	Terminal Illness
Life Cover – Death Benefit	Total & Permanent Disability	Aortic Surgery
Out of Hospital Cardiac Arrest	Benign Brain Tumor	HIV – Accidental Infection
Peripheral Neuorpathy

You don’t have to die…

The benefit is paid when diagnosis is confirmed – not when you die of the condition. It provides you and your family with a lump cash sum to use when it is needed most for medical care or to pay the mortgage and other debts to relieve financial pressure

Why do I need Trauma (Critical Illness) insurance?

The choice of cover depends entirely on an individual’s circumstances.

Trauma Insurance was first introduced into Australia in 1986. If you have heavy debts and are at pre-retirement age this cover may be important. A Critical illness can be just as damaging to family finances as a death and more so if medical bills result from a long lasting illness.

While recovery is certainly possible from the illnesses covered by trauma insurance, in most cases to qualify for a benefit the condition needs to be severe. Also if you suffer from a condition which is not specified you will not be covered. Income protection insurance on the other hand covers any sickness or accident related injury causing temporary inability to work eg. stress, RSI or back injury. There is certainly room for both types of coverage however trauma will usually be the only option for persons who are not currently working