subject: Know More About Trauma Insurance [print this page] Many people often think that getting life insurance is sufficient enough to cover you for various illnesses, and this is almost true in many cases. But there are several illnesses where you can live for years but might be unable to work. Here you need to get hospitalized for several months and it requires a huge sum of money for medical and hospital bills. Life Insurance is not sufficient for such types of illnesses.
Here comes the importance of Trauma Insurance. Trauma insurance or critical illness insurance provides a lump sum payment in the case you being diagnosed with one of a specified range of critical illness or injuries. The list of conditions covered is often optional and varies between companies as do the definitions of those conditions and some trauma benefits are subject to a qualifying period however, they are not usually measured by an ability to work.
There are numerous factors that determine the level of Trauma Insurance you need and a practical consideration of the real implications of injury or illness needs to be undertaken. Issues such as debt, medical or rehabilitation expenses, education costs and future income needs must be considered.
Generally Trauma Insurance covers life threatening medical situations or cases that severely conciliate current and future quality of life. The main conditions include cancer, stroke, heart attack and coronary artery bypass, ancillary conditions such as Alzheimers & Parkinsons disease, Dementia, Major Head Trauma, Major Organ Transplant and Lung, Kidney & Liver Failure, Severe Burns and Paralysis.
There is no predefined level of Trauma Insurance. To determine how much insurance you require depends on the debt you taken, no. of family members, your current earnings, future earnings, and savings etc. There are many factors that will affect the cost of your trauma insurance that include age, gender, occupation, health, smoker/non smoker, recreational and sporting activities etc.
by: Henry Jurk
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