Trauma or crisis insurance is also known as critical illness cover. People usually think that life insurance will cover all your financial problems. But in some cases it happens so like you are unable to work due to your illness for a long time. Life insurance wouldn’t pay for such cases. This is where trauma insurance comes in. These days’ people have a keen interest in trauma or crisis insurance because of their growing awareness of risks in lying ill for long time.
Trauma insurance gives coverage at the time of your illness as well as your time of recovery. This can be a great help to you and your family members during the time of your major medical crisis. So, as it helps during a major illness time, it is also nicknamed as one’s ‘living’ life insurance.
Trauma insurance, as per rules, gives you coverage in around 40 kinds of illnesses which are specified by insurance companies. You won’t get its coverage if your diagnosis doesn’t prove any of these illnesses. But, usually people do get its coverage as most of the major illnesses are included in the list.
The major medical conditions which can give you trauma insurance coverage are the following. Problems regarding the heart like heart attacks, various heart surgeries, cancer problems, blood related diseases such as AIDS and anemia, major injuries, lose of limbs or sight, coma conditions, loss of speaking ability, head traumas, every form of paraplegia, loss of hearing capacity and serious liver problems.
Also included in the list are problems like strokes, other nervous system troubles like Parkinson’s disease, motor neuron diseases, organ transplants, various kinds of tumors, bone marrow transplants etc. Partial lose of hearing, speech, sight etc. will not give you trauma insurance coverage. Each of these medical conditions should have a definite meaning decided by the companies to give you coverage. So, it is better not to select your package of critical insurance coverage only looking at the monetary benefits. You should be well aware of the clauses and sub-clauses of your policy to claim your case properly.
Things like your living conditions, family medical history, smoking and drinking levels will be all taken into account when you are applying for an insurance coverage. Valid claims of trauma insurance are settled very fast. It will assist you in a great amount. Compared to other kinds of insurance, the premiums are a bit expensive. This is due to the short time-frame of the policy.
The major reasons for which your claim can be rejected or discarded are fraudulence of the claim and a claim coming in the first ninety days. There are certain exceptions in the latter case such as heart attacks, some kind of cancers bypass surgeries etc. Nearly 3 per cent of the claims are found to be fraudulent by the companies. So you should have maximum clarity on what you are claiming.
Having a good life insurance plan and a trauma insurance coverage will certainly help you and your dependants in times of adverse medical conditions. These two combined can give you a certain kind of assurance on complete coverage.