Trauma Reinstatement
Are You Able To Make Multiple Claims In Your Lifetime On Your Trauma Insurance Policy?
Trauma cover is all about supporting your recovery from a serious illness – helping you afford the treatment of your choice and allowing you to make necessary changes to your lifestyle. When you’re looking at trauma cover, there are 3 key things you need to understand so you know what you’re covered for, and what that means at claim time:
- What you can claim for – Trauma definitions
- How your cover is structured – Stand-alone or linked
- Making multiple claims – Trauma reinstatement
Trauma reinstatement
A little-known benefit of trauma cover is that you may be able to make multiple claims in your lifetime.
That’s because some trauma cover policies offer a trauma cover reinstatement option after a successful claim. A reinstatement option allows you to recommence your policy, typically 12 months or more after a claim has been paid. Typically a reinstated policy won’t cover you for the same medical condition you already claimed on, or a related condition, but it can still cover you for a wide range of other serious illnesses.
Learn more about Trauma insurance and it’s exclusions in the Product Disclosure Statement, otherwise speak to your financial adviser.
Did you know?
There’s a common exclusion on trauma cover policies that means you generally won’t be covered for some medical conditions if they’re first diagnosed within 90 days of receiving your application. Also you are likely to not be covered for any conditions that directly or indirectly arise from an intentional act or omission. You can find details of any exclusions in your Product Disclosure Statement (PDS).
Want to know more?
If you’d like to discuss any of the content in this article and how it may apply to you, please call me on 0418 431 079.
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