Trauma insurance can provide a lump sum benefit following diagnosis of a covered medical condition. We advise on the amount of cover, policy definitions, existing insurance and insurer options suited to your circumstances.
A serious illness can create additional financial pressure even where income has not immediately stopped.
Trauma insurance, also known as critical illness insurance, can provide a lump sum benefit when a specified medical condition meets the definition in the policy.
The benefit may provide additional financial flexibility during diagnosis, treatment and recovery. Depending on your circumstances, this could include helping with household expenses, debt commitments, treatment related costs or allowing you or a family member greater flexibility around work.
The quality of trauma insurance depends on more than the sum insured or premium. The conditions covered and the definitions that determine whether a benefit is payable can vary between policies and insurers.
We compare relevant policy definitions, features, premiums and underwriting requirements and consider the amount of cover alongside your existing insurance and financial circumstances before making a recommendation.
We consider household expenses, debt commitments, available assets, existing insurance and the potential financial impact of a serious illness when recommending an amount of cover.
Trauma policies cover specified medical conditions and apply the definitions contained in the policy. We compare relevant definitions and features because the circumstances required for a benefit to be payable can differ between products.
A trauma benefit is generally paid as a lump sum when the relevant policy definition is met. The benefit can provide financial flexibility during treatment and recovery, subject to the policy terms.
We review existing trauma, life, TPD and income protection insurance before recommending additional or replacement cover so that the different policies are considered together.
Where new cover is required, we compare relevant policy features, definitions, premiums and underwriting requirements before making a recommendation.
Trauma insurance, income protection, TPD insurance and life insurance are designed to respond to different events.
Trauma insurance can provide a lump sum following diagnosis of a covered condition, even where you may ultimately return to work.
Income protection is designed to replace part of your income where illness or injury prevents you from working, subject to the policy terms.
TPD insurance can provide a lump sum where the policy definition of total and permanent disability is met, while life insurance can provide a lump sum benefit on death.
Where more than one type of cover is appropriate, we consider the policies together to understand the financial risks each is intended to protect and to reduce unnecessary duplication where possible.
You may already hold trauma or related personal insurance through an existing policy.
Before recommending additional or replacement cover, we review what you already have, including the sum insured, ownership, premiums, covered conditions and relevant policy definitions.
Existing cover should not be cancelled simply because a new policy is available. Where replacement is recommended, the differences between the existing and proposed cover, including underwriting and policy terms, should be understood before an existing policy is cancelled.
For eligible doctors, lawyers and select professionals, we can also consider insurance arrangements available through a mutual structure.
Through relationships with participating insurers, eligible clients may be able to access insurance through a mutual that can provide a share of profits back to eligible members, subject to the mutual's terms, insurer arrangements and eligibility requirements.
Our advice remains focused on whether the insurance itself is appropriate for your needs. We consider the amount of cover, policy definitions, ownership, premiums and underwriting terms before recommending an insurance solution. Any potential profit share is an additional feature and should not be the primary reason for selecting a policy.
Eligibility, participation and any profit share are not guaranteed and can vary according to the applicable mutual, insurer and arrangement.
Trauma insurance needs can change as your income, debt, family circumstances, assets and other insurance change.
We can review your cover periodically to consider whether the amount insured, ownership and policy structure remain appropriate.
If you need to make a claim, we can assist with the claims process, including helping you understand the policy requirements and communicating with the insurer as the claim progresses.
Trauma insurance, also known as critical illness insurance, can provide a lump sum benefit when a specified medical condition meets the definition in the policy. The conditions covered and the definitions that apply vary between policies.
Trauma insurance can pay a lump sum following diagnosis of a covered condition even where you may return to work. TPD insurance can provide a lump sum where the policy definition of total and permanent disability is met. They protect different financial risks and may both form part of a personal insurance strategy depending on your circumstances.
No. A trauma policy covers the medical conditions specified in the policy and a benefit is payable only where the relevant policy definition and other policy terms are met. We compare relevant definitions and features when recommending cover.
A trauma benefit is generally paid as a lump sum rather than as reimbursement for a specific expense. It can provide financial flexibility during treatment and recovery, including helping with household expenses, debt commitments or treatment related costs, depending on your circumstances.
The two types of insurance serve different purposes. Income protection is designed to replace part of your income where illness or injury prevents you from working, while trauma insurance can provide a lump sum following diagnosis of a covered condition even where income has not stopped. We consider your existing cover and financial circumstances before recommending whether both are appropriate.
The appropriate amount depends on your circumstances. We consider household expenses, debts, available assets, existing insurance and the potential financial impact of a serious illness before recommending an amount of cover.
Yes. We can assist with the claims process, including helping you understand the policy requirements and communicating with the insurer as the claim progresses.
Private Capital Management is based at Level 26, 1 Bligh Street in the Sydney CBD. We meet with clients in person in Sydney and by video across Australia.
Meetings, document collection and insurance applications can generally be completed digitally, allowing us to provide advice and manage the underwriting process regardless of location.
Licensed and Accredited
AFSL 342880
Authorised Representative 1239545
ASIC
Qualified Tax Relevant Provider, Nathan Ide
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