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Trauma Cover – Zurich Life Insurance and Income Protection

ZurichIf you need to take time off work due to an illness or injury, getting the financial support you need is vital to maintaining your quality of life. It’s also important to get the coverage you need so your family’s financial future is protected. You may already have health, life and TPD insurance, but there are a few reasons Zurich’s Trauma Cover is beneficial for you and your family:

  • Your health insurance only covers all or part of the costs of medical bills, and not all medical practitioners accept health insurance;
  • Your life insurance will only pay out in the event of your death;
  • Your TPD insurance will only cover you if you’re permanently disabled and unable to work ever again.

If you develop a medical condition or become injured and are unable to work for an extended period-of-time, Trauma Cover is ideal for ensuring you have the funds you need. If you suffer from one of their 42 specified trauma events, you’ll receive a lump sum to pay for immediate medical fees, to cover the costs of lifestyle changes, to pay for necessary home care while you’re recovering, and even repay large debts.

Trauma cover is available to those aged between 18 and 59.

What types of cover can I choose from?

If you want coverage for only the basics and the most common medical conditions, you can choose a basic Trauma Cover. If you want thorough protection for a full range of illnesses and injuries, you can select Trauma Cover Extended. With your basic option, you’ll be covered for 12 trauma events, whereas with Trauma Cover Extended, you’ll be covered for 42 trauma events.

Zurich’s Trauma Cover is one of the covers available under Zurich’s Protection Plus policy, a comprehensive insurance package that lets you combine their core insurance policies. Trauma Cover can be combined with Life Insurance, Death Cover and TPD Insurance, or can be held within your super under Zurich’s Superannuation Term Life Plus plan.

When you select more than one cover under your Protection Plus policy, Zurich will automatically link the covers together. This means you get a cost-effective and comprehensive insurance option, but it also means that a claim on one cover will impact the others.

What conditions trigger a payout?

Depending on the type of cover you select (Basic or Extended), you could receive a payout for:

  • A Benign tumour of the brain or spinal cord
  • Chronic kidney failure
  • Diplegia
  • Heart attack
  • Hemiplegia
  • Loss of speech
  • Major organ transplant
  • Malignant cancer
  • Stroke
  • Advanced diabetes*
  • Aorta repair*
  • Aplastic anaemia*
  • Blindness*
  • Kidney failure*
  • Dementia*
  • Loss of limbs or sight*
  • Major head trauma*

* Only available under Extended Trauma

Is there a waiting period?

Whereas most of Zurich’s specified trauma conditions will result in an immediate payout, benefits are not payable for some conditions if they arise within the first 90 days after you apply for the cover. These include heart attack, malignant cancer, stroke and coronary artery bypass surgery.

What’s included?

In addition to an uncapped lump sum payment, a 21-day cooling off period, guaranteed upgrade of benefits and guaranteed renewability, Zurich’s Trauma Cover also includes:

  • Partial trauma benefit*
    If you’re insured for over $1000,000, Zurich will pay you a partial advance payment of up to $25,000.
  • Paralysis booster benefit
    If you become paralysed, Zurich will double your benefit payable to a maximum of $2 million.
  • Funeral benefit
    If you die from accidental causes or from your illness or injury, Zurich will pay your family $5,000 to assist with immediate funeral costs.
  • Interim Cover
    Because you usually need to wait for your application to be processed in order for your cover to become active, Zurich will provide you with some accident cover while you wait. This means you won’t miss out on the protection you need should you become sick or injured while waiting for your application to be processed.
  • Inflation protection
    Zurich will increase your cover ever year to stay in line with the rising Consumer Price Index.
  • Financial planning advice
    Zurich will reimburse you for the cost of getting a financial plan, for fees of up to $3000.
  • Premium freeze
    Don’t want your premiums to change? You can pay the same amount year after year. This also means your sum insured will decrease.
  • Premium holiday
    Can’t afford your premiums for a while? Zurich lets you take a holiday from paying for up to 1 year.
  • Double trauma option*
    Because a claim against your Trauma Cover can affect your linked cover, Zurich will reinstate your Death Cover with premiums waived after you receive your Trauma benefit.
  • Top-up option*
    Zurich will increase your partial trauma benefits by up to 25%.

* Only available under Extended Trauma

Want to see how Zurich’s Trauma Insurance measures up? You can compare Zurich’s Trauma Insurance with other trauma covers through our free quote service.

Page last updated: April 12, 2014