Skip to main content

Product Class Advice – Trauma (Part 3)

This form of insurance is available as an optional benefit on a Term Life insurance policy or as a standalone policy. A trauma payment is likely to be paid should you suffer any of the covered conditions.

This could include, but is not limited to: heart attack, stroke, cancer, paraplegia, multiple sclerosis, Parkinson’s disease, chronic liver, lung and kidney disease.

The exact conditions covered as well as the definition of each condition varies for each product. The lump sum could be used to cover debt reduction and to cover costs related to making lifestyle adjustments, necessary home and/or car modifications, medical treatment costs, work alterations and peace of mind.

Generally term, TPD and trauma insurance premiums are not tax deductible. However, when a claim is paid the benefits are not subject to tax.

Should you wish to obtain further information about our RG146 face-to-face course, or our solution for accountants once the accountant exemption expires or you wish to become an authorised representative please email [email protected] or register your interest on our website.

If you found this article interesting, why not
  • SEND it to a friend from the sidebar
  • LEAVE A COMMENT by clicking on the icon at the top of the article
  • Send FEEDBACK directly to us at [email protected]

Leave a Reply

Your email address will not be published.