Suffering Illness or Injury

The advances in medical treatment today have dramatically improved the chances of survival when it comes to suffering traumatic events such as a serious heart attack, cancers, stroke, kidney failure etc. While you are now more likely to survive you are also more likely to face large medical bills which are required to be paid, thus the need for trauma insurance has increased.

Trauma insurance is a way to ensure you have funds available to seek medical treatment and to take time off work to recuperate. Trauma (or critical illness) insurance provides a cash lump sum if you suffer a specified illness or injury such as those mentioned. It potentially allows you to:

  • Be able to cover all potential medical expenses
  • To have choice over your hospital, specialist and treatment
  • To reduce or pay off debts
  • Make any alterations to family home, if required
  • To be able for your partner to take time off work to care for you

Time Off Work Due To Illness

Your income is your most important asset. In the event that you are unable to work for an extended period, due to illness or injury income protection insurance or salary continuance insurance provides a monthly benefit to replace lost income. It is designed to help you maintain a reasonable standard of living while you are unable to continue to earn your regular income, as even though you are unable to work, the bills and other expenses still require payment.

While income protection insurance is an important consideration for anyone who works and relies on an income, it is also important for self-employed people, small business owners or professionals whose business relies heavily on their ability to work. You need to ask yourself how important it is for you to;

  • Be able to cover all your daily living expenses
  • To continue to make your mortgage repayments
  • To keep the children in your chosen school
  • To have the peace of mind knowing that these things will be taken care of in such a situation.

Being Unable To Run Your Business

For individuals running your own business, your business means everything to you; it’s your passion, your livelihood. While working for yourself or running your own business can provide additional freedoms not obtainable when working for someone else, it can also bring with it long hours and additional responsibilities. Most business owners struggle to arrange the time to take a well-deserved holiday, but have you ever stopped to think what would happen if illness or injury meant that you couldn’t work for a month, 3 months or even longer. What would happen to the business? It’s important to consider;

  • How you would replace your personal income?
  • How you would pay the business expenses if you couldn’t work?
  • If ‘workers compensation’ would really cover these expenses?
  • How you would cover any additional medical expenses?

Unexpected Loss Of A Loved One

Life is full of surprises some good and some bad. When you lose a loved one your world can almost certainly be turned upside down.  While dealing with the emotions of your loss, there are also funeral arrangements to be made, estate issues to be dealt with and the everyday bills and expenses don’t just stop.

Life Insurance will never compensate for the loss of a loved one or replace their role in the family, but it can help reduce the financial and emotional burden by providing a capital amount to ensure you and your family have choices. Those choices may include;

  • Paying off your mortgage and other debts including funeral expenses
  • Maintaining your children’s current and future education needs
  • Ensuring an adequate level of ongoing income for a non-working partner
  • Changing to a more flexible career, or giving up work, to look after your children
  • Having a financial safeguard for your family’s wellbeing


Please visit our ‘Guides’ page for helpful brochures and general advice.