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Macquarie Group FutureWise Trauma Insurance

MacquarieIf you’re diagnosed with a serious medical condition, the financial stress of medical fees and income lost can severely affect your quality of life. Macquarie Group FutureWise Trauma Cover offers financial assistance for those who have been diagnosed with a critical illness or injury by paying a benefit to cover the high cost that comes along with illness and injury. You can also receive partial payments for certain conditions.

Depending on your condition, you could receive either a full or partial payout to help cover the costs of medical bills or additional living expenses due to your condition, and to help out with any existing debts so you don’t have to draw down on your savings or take out any loans.

What conditions trigger a payout?

Macquarie Group provides cover for a generous amount of 65 medical conditions. You could receive cover for some of them or all of them, depending your level of cover.

These conditions include:

  • Cancer, including melanoma and prostate
  • Heart conditions, such as heart attack or aortic surgery
  • Brain and nervous system disorders, including dementia and multiple sclerosis
  • Lung disease
  • Kidney failure
  • Loss hearing, eyesight or speech
  • Sever burns or loss of limbs
  • Digestive system disorders and diseases
  • Diabetes complications
  • Loss of independent existence due to any other medical condition
  • HIV
  • Organ transplants

What sort of cover can I get?

There are three types of cover you can apply for. The type of cover you choose affects the number of medical conditions you can receive a benefit for, as well as the premium paid.

  • Trauma Standard
    Provides cover for 45 medical conditions, and is an ideal entry-point for the fit and generally healthy.
  • Trauma Plus
    Provides cover for 63 medical conditions.
  • Trauma Platinum
    Provides cover for the full range of 65 medical conditions.

All three levels can be linked to your Life Insurance policy or connected to your TPD cover.

What’s included?

Along with a lump sum payment between $50,000 and $2 million, Macquarie Group can provide you with the following benefits for Trauma Insurance:

  • Financial planning benefit:
    If you make a claim on your benefit and need to seek financial advice to plan for your future, Macquarie Group will reimburse you up to $1000 to cover the costs of attaining a financial plan.
  • Indexation increases:
    Your Trauma Insurance will increase in line with inflation for certain benefit categories, so your benefit will be valuable to you from year-to-year.
  • Trauma Insurance Buy Back
    If your TPD cover is included within a Life Insurance policy, or connected to a Life Insurance policy through Flexible Linking, your sum insured could be reinstated in full to the amount it was before a claim without the need for medical underwriting*.
  • Trauma Reinstatement (optional)**
    If you make a claim against your Trauma Insurance, you could have your full sum insured reinstated 12 months after it was reduced in full.
  • Double Trauma (optional)**
    If your Trauma Insurance is held within a Life Insurance policy or linked to your Life Insurance Policy, and you make a claim against your total sum insured, you could have your full sum insured reinstated 14 days after the sum insured was reduced.
  • Protect your business (optional)**
    You can protect your business with a Business Increase Option. When you apply for this option, your nominated business can be included in your cover, letting you increase your sum insured.
  • Avoid premiums (optional)**
    Avoid the costs of ongoing premiums throughout your Trauma Insurance cover’s lifetime, such as making Trauma claims or involuntary unemployment.

*Subject to certain policies.

**These options are available at an extra cost.

Macquarie Group will also pass along any future upgrades to their policies to existing policy holders. Macquarie Group also guarantees they never cancel a policy even if changes to your health or occupation should occur.

Want to compare Macquarie Trauma Insurance with other policies? You can compare this cover with others in the market through our free quote service.

Page last updated: April 12, 2014