AXA Trauma Insurance Plan

Information verified correct on September 29th, 2016

Why Consider AXA's Trauma Insurance Cover?

The terms life insurance, income protection insurance, and total disability insurance might have become common terms in insurance speak; but there is another addition to the ever-growing family of insurance plans – trauma insurance.

Trauma insurance has been on offer in Australia for quite, as it was first introduced in 1986 and has since given cover to millions of Australians who have suffered and diagnosed with a critical or major illness, such as cancer or heart disease.

AXA no longer exists in Australia and has now merged with AMP Life Insurance

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Trauma insurance, basically, is a type of policy which pays you a lump sum if you are found to have been suffering from any critical illness listed in the policy. The illnesses covered may vary from provider to provider, but the basic illnesses under this, aside from cancer and heart disease, are stroke and a major organ transplant.

Trauma insurance almost works the same way like life insurance except that, a lump sum is paid to you as early as the time you are diagnosed with a critical illness. This means that you don’t have to die before you can fully benefit from it.

Is Trauma Insurance Necessary

Those who have suffered any type of critical illness know how life changing it can become. It changes how you look at life, and it changes your lifestyle. And reality could hit you very hard when your finances become the hardest hit area because thanks to all the medical expenses the illness has incurred.

It is one thing to recover from a critical illness, and it is a whole different thing to recover from a financial setback. That is why being ready in everything life has to offer you is very vital, which makes Trauma Insurance a need rather than a burden.

Trauma insurance can cover you where your health insurance cannot extend its cover. The financial benefit you can get from it can help your condition improve and give you access to the best medical treatment and rehabilitation facilities anywhere in the world.

Aside from the ability to access the best service and medical attention available, you can also use your trauma insurance benefits to pay off your debts. The financial freedom it offers is priceless. Moreover, trauma insurance can also allow you to access the best care available. This means that you can hire a housekeeper to perform other chores for you while you are recuperating.

Features and Additional Options Available through AXA Trauma Insurance Plan

The saying which tells us that not everything is created equal can apply to AXA Trauma Insurance Plan. Other trauma insurance polices may cover you, but AXA gives you more by giving you the option to cover your spouse and kids as well – that is three times the peace of mind you have.

So if you look at the features and options AXA Trauma Insurance Plans have, you could see the options that give you access to included and optional features that would benefit your whole family.

The included benefits are as follows:

  • Trauma Events covers more than 30 to 40 types of illnesses from which you can receive full payment.
  • Accommodation Benefit pays you a full benefit in the event that you have to receive treatment 100km away from your house. This would pay you a maximum of $150 a day for 14 days including the friend or family member who has to take care of you.
  • Financial Plan Benefit is a feature which pays your financial adviser if you obtained a financial plan from him within 6 months after receiving your full benefits.
  • Future Insurability Benefit allows you to increase the amount of your cover every 12 months without the burden of submitting further medical or health evidence.
  • Indexation Benefit is a feature where your cover is automatically increased by 5% or the increase in the Consumer Price Index or CPI to protect your cover against inflation.
  • Upgrade of Benefits informs you of any improvements or upgrades available to your plan. Then you can apply those improvements or make some upgrades without having to submit further medical evidence.
  • 24-Hour Worldwide Cover gives you the peace of mind knowing that wherever you travel anywhere in the world, you have full cover 24 hours a day, 7 days a week.

The optional benefits you can add to prep up your AXA Trauma Insurance Plan are:

  • Business Solutions Option allows you to increase your cover according to the value of your business and the value of a relevant business loan at the time of the increase.
  • Children’s Trauma allows you to cover up to 5 of your children ages 3 to 16 years old for death, terminal illness, and other trauma events listed in the policy.
  • Trauma Reinstatement allows you to buy new trauma insurance after you are paid the full benefit of the present trauma cover you have.
  • Life Buy Back allows you to purchase a new life insurance cover without having to provide additional medical evidence.
  • Double Trauma is an option you can include with the included features of the AXA Trauma Insurance Plan. Having this will allow you to receive payment even before you are 70 without reducing the amount of the life cover attached to it.

Being covered is one thing, but being completely covered is another thing. The AXA Trauma Insurance Plan gives you flexibility to choose the cover you want for you and your family.

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