Providing funds when you most need them
Illnesses and conditions such as a heart attack or stroke will affect your ability to make a living while you recover and receive treatment. You surely don’t want or need the extra stress of not knowing whether you can support yourself and your family during such a difficult time. The funds can be used to:
- Immediately pay off debt such as your mortgage, reducing expenses and stress
- Allow your spouse or another family member to take time off work to help you recover
- Pay for the best medical expenses
- Take a break to completely focus on a full recovery – even if you do feel up to work.
How does it work?
If you are diagnosed with a specified range of illnesses and conditions, trauma cover will provide immediate funds to put toward any purpose you wish while you recover. This money can also be used to explore additional treatments that may speed your recovery.
How is it different to life insurance?
What makes trauma cover unique, and especially valuable during a critical time, is that your diagnosis does not have to be terminal. Instead, trauma policies cover a comprehensive range of serious illnesses and conditions.
How much cover do you need?
Generally, you can apply for any amount of cover, though the limit could depend upon your health background. Your individual and family circumstances will also be considered before any policies are established. We can help you calculate how much cover you need.
Member Insurance Benefits Program
If you or your spouse is serving in the New Zealand Defence Force (NZDF), you have access to a heavily discounted group insurance scheme called the Member Insurance Benefits Program (MIBP), which has been tailor-made for the NZDF. While MIBP provides some cover fully funded by the NZDF, it doesn’t provide trauma cover unless it is arranged separately by you.
As is the case with other policy types, the level of trauma cover a person needs can rapidly change depending on events that are all part of life, including births, marriages, separations, increases and decreases in mortgages, increases and decreases in income, and other employment changes. These personal factors combine with the constantly improving nature of the insurance market to mean that yearly reviews of your levels of existing insurance are a necessity. Please contact us if you would like to review your current policies.
As we’re not an insurance provider and aren’t owned by one (unlike some financial advice firms!) our team of Authorised Financial Advisers can access all the best insurance providers across the country to ensure you and your family’s needs are met with the right level of trauma cover or other cover to suit your developing needs, and that you access the best additional benefits. So that you know our advisers - in this instance often called insurance brokers - are truly putting your interests first, our advisers are all paid a salary instead of commission. They also have no incentive to promote one product over another.
To explore your options, receive a free quote, or examine your existing policies, what have you got to lose by making a phone call to check your situation? For a free, no-obligation chat with an Authorised Financial Adviser (insurance broker), call 0508 MILESTONE (0508 645 378) or leave your details below.