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Hitting an insurance home run - Third Base Trauma Cover

13.06.2019 by Neville Hughes

Most people either cringe or yawn when the word insurance is mentioned but regardless of whether you find it scary or boring, managing risk is a necessity in the world in which we now live. Let’s cover all of the bases to help make your home run as easy as possible.

Third Base – Trauma Cover

Financial security for you is a goal worth working for. But a sudden, life-threatening illness or major accident could undermine your hard work, draining your financial resources and badly affecting the quality of your life.

Trauma Insurance fills a gap between Income Protection, Life and TPD Insurance.

South African heart surgeon, Dr Marius Barnard, pioneered the idea of this “living insurance” after witnessing his patients’ recoveries being hampered by their concerns over the financial burden caused by major illness.

Trauma Insurance pays a lump sum benefit on the occurrence of a specified condition such as cancer, heart attack or stroke, which can strike at any age. It often provides a benefit when neither Income Protection nor TPD Insurance claims can be made.

Unlike Income Protection, where the benefit is paid if you are unable to work regardless of the nature of the illness, trauma payments are based upon the specific illness, not the degree of disability.

It is designed to cover out-of-pocket medical expenses and other costs associated with major illness, and to allow recovery to take place without financial worry.

In Dr Barnard’s words: “this means that you can obtain a benefit

Insurance is a complex area. Policies vary in their detail and insurance companies differ in their approach to processing both applications and claims.

Each type of insurance has a role to play and it is a job for an experienced professional to work out the right amount of each type for you. You should also seek expert advice whenever you consider allowing a policy to lapse to ensure you are fully aware of the potential consequences.

We can analyse your insurance needs and recommend cover that’s right for you and your budget. After all, you don’t want to strike out before reaching first base. Contact us for an obligation free meeting.


This information is general information only. You should consider the appropriateness of this information with regards to your objectives, financial situation and needs.

GTC Financial Services Pty Ltd ABN 69 596 897 575 is a Corporate Authorised Representative of Infocus Securities Australia Pty Ltd ABN 47 097 797 049 AFSL and Australian Credit Licence No. 236523


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