We obtained quotes from nine insurance brands to find out the average cost of trauma insurance. It's important to remember that these costs won't reflect your personal situation and will likely vary.
If you become seriously ill or are recovering from a major injury, trauma insurance can pay you a lump sum. Trauma insurance costs vary depending on a number of factors including the type of job you have, whether you smoke or not and how healthy you are.
Through our research we found that trauma insurance can cost around $20 a month.
How much does trauma insurance cost?
The cost of trauma insurance depends on a few factors: your age, health, occupation, smoking status, the amount of cover you want and whether or not you want to bundle a policy with life cover.
To give you an idea of trauma insurance costs, take a look at the table below. It's based on a white-collar, 35-year-old male worker looking for $100,000 worth of cover.
Insurer
Non-smoking (bundled with life)
Non-smoking (standalone trauma)
Smoking (bundled with life)
Smoking (standalone trauma)
NobleOak Trauma Insurance
$25.19
$14.31
$53.24
$32.63
ANZ Recover Well
No bundled cover
$28.61
No bundled cover
$55.18
TAL Recovery (Trauma) Insurance
$38.30
$22.29
$83.06
$48.14
Qantas trauma insurance
$46.50
$26.48
$100.87
$57.19
Allianz
$29.07
$11.31
$58.26
$26.01
Zurich Wealth Protection
$23.12
n/a
$63.09
n/a
MLC Insurance Life cover
$24.68
n/a
$57.21
n/a
AIA Priority Protection
$31.11
n/a
$54.03
n/a
OnePath
$30.42
n/a
$54.84
n/a
RAC Trauma Insurance
$24.48
$6.74
$53.22
$12.77
*Quotes are based on a 35-year-old male, white-collar worker, taking out $100,000 cover. Quotes accurate as of May 2020.
Get a trauma insurance quote to get more detailed costs
1 - 6 of 25
Why compare life insurance with Finder?
You pay the same price as buying directly from the life insurer.
We're not owned by an insurer (unlike other comparison sites).
We've done 100+ hours of policy research to help you understand what you're comparing.
What impacts the cost of trauma insurance?
How much you'll pay for trauma insurance depends mainly on these factors:
Your age. The younger you are, the less you tend to pay for insurance.
Biological sex. Women tend to pay less for trauma insurance because they're statistically less likely to be involved in accidents.
Your job. You may pay more for trauma insurance if you work in a high-risk job.
Smoking status. If you smoke, you will pay more for your premiums.
Your health. People with pre-existing conditions may have to pay more.
The cover amount you select. When you take out a policy, you choose how much you want a policy to pay out. The more you select, the higher the premiums tend to be
Do I pay more if I have pre-existing conditions?
It's likely. In many cases, pre-existing medical conditions mean you're more likely to become seriously ill. As a result, your insurance provider is likely to do one of the following:
Charge you higher premiums but cover you for conditions related to that medical condition.
Impose exclusions on your policy for any claims related to your pre-existing conditions.
Cover you at no extra charge. If your pre-existing condition is unrelated to anything that trauma insurance covers you for, you might be able to avoid paying more.
How can I save on trauma insurance
Follow these steps and you might be able save on trauma insurance.
Get it young. The younger you get it, the better your chances are of encountering much lower premiums because you're less likely to have pre-existing conditions or other health issues.
Bundle it rather than standalone. If you bundle a trauma insurance policy with life insurance, it's usually much cheaper than buying two standalone policies. It also means your dependants are covered if you die or if you become seriously unwell.
Level premiums. If you select level premiums, the costs will stay the same no matter how long you have the policy for. This is different from stepped premiums, which generally cost less to begin with but begin to rack up each year you retain the policy.
Avoid unnecessary extras. It's important to select a policy that works for your situation. For instance, don't pay extra for a policy that includes child trauma if you don't need it. Also think about how much cover you need. You don't want to pay for more cover than you need, or too little for not enough.
Compare. Settling for the first policy may be the least time-consuming option, but if you want to save, shopping around for a deal can save you heaps.
Why you can trust Finder's life insurance experts
We're free
You pay the same as buying directly from the life insurer. Better still, we regularly run exclusive deals that you won't find on any other site – plus, our tables make it easy to compare policies.
We're experts
Our team of life insurance experts have researched and rated dozens of policies as part of our Finder Awards and published 250+ guides to make it easier for you to compare.
We're independent
Unlike other comparison sites, we're not owned by an insurer. That means our opinions are our own and we work with lots of life insurance brands, making it easier for you to find a good deal.
We're here to help
Since 2016, we've helped 270,000+ people find life insurance by explaining your cover options, simply and clearly. We'll never ask for your number or email. We're here to help you make a decision.
Frequently asked questions
No. You can only claim income insurance premiums as a tax deduction because they're related to your income. However, the trauma insurance benefit (the payout you receive) is tax free.
No. Super generally only pays for life insurance and in some cases, income protection.
Yes. Common injuries that trauma insurance can cover include major burns, loss of a limb or loss of sight.
Gary Ross Hunter is an editor at Finder, specialising in insurance. He’s been writing about life, travel, home, car, pet and health insurance for over 6 years and regularly appears as an insurance expert in publications including The Sydney Morning Herald, The Guardian and news.com.au. Gary holds a Kaplan Tier 2 General Advice General Insurance certification which meets the requirements of ASIC Regulatory Guide 146 (RG146).
Trauma insurance pays out for specific health events, such as cancer, heart attack and many more. The costs of these events can vary widely, which makes it hard to find a sum insured that will suit every circumstance.
Feedback
How likely would you be to recommend finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Important information about this website
finder.com.au is one of Australia's leading comparison websites. We are committed to our readers and stands by our editorial principles
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labeling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
We make money by featuring products on our site. Compensation received from the providers featured on our site can influence which products we write about as well as where and how products appear on our page, but the order or placement of these products does not influence our assessment or opinions of them, nor is it an endorsement or recommendation for them.
Products marked as 'Top Pick', 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product. You can learn more about how we make money.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
Please read our website terms of use and privacy policy for more information about our services and our approach to privacy.
