Thinking about illness and death is rather morbid and depressing, however it’s a natural occurrence in life. Many people experience an illness throughout their life, and at some point leave this world behind.
1 – Life and trauma insurance is a type of insurance that not only protects and covers you when you get seriously ill and have to stop working due to hospitalisation or intensive care, trauma insurance will cover your bills and expenses until you are better. You don’t want to be thinking about where the money is going to come from for your next bill, rather you want to concentrate on getting better. Trauma insurance covers things like heart attacks, strokes, malignant cancers and bypass surgery among others, or if these medical conditions leave you with a permanent disability.
2 – The life insurance part of your policy will protect and cover your family in case you die. That way they won’t be burdened with any added expenses of their own, and they will be able to grieve without worrying about having to pay any debt that may have been left behind.
3 – Life & trauma insurance gives you peace of mind. There’s less need to worry about the ‘what ifs’ of life when you take out life and trauma insurance. Instead you can be assured that if the worst does happen that everything will be taken care of. This is even more important in times of uncertainty and economic downturn where stress can run havoc on our health and well-being.
4 – Life and trauma insurance is there for your children should you leave them behind on their own. They, or their guardians will receive the money in order to support your children and give them the best life possible. Without life insurance this would be made difficult and you could be compromising your child’s future if the worst should happen.
5 – If you get ill, you receive a lump sum of money that can be used to pay for any necessary medical expenses, as well as to support you while you’re getting back on track if you aren’t covered with income protection insurance.
Both life & trauma insurance are important, life insurance should be assessed regularly so that it matches your financial needs and covers all repayments that may arise in case of death or illness. The risk of not being protected is greater than the cost of having life and trauma insurance.