Get exclusive money-saving offers and guides
Straight to your inbox
By signing up, you agree to the Finder
Privacy & Cookies Policy
and
Terms of Use, Disclaimer & Privacy Policy.
How much does trauma insurance cost?
Trauma insurance costs on average $20 a month for white- and blue-collar workers.
Life Insurance Types
Trauma Insurance Guides
Life Insurance Guides
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
The cost of trauma insurance?
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 |
*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
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.
Frequently asked questions
Can you claim trauma insurance premiums as tax deduction?
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.
Can super pay for trauma insurance?
No. Super generally only pays for life insurance and in some cases, income protection.
Does trauma insurance also cover injury?
Yes. Common injuries that trauma insurance can cover include major burns, loss of a limb or loss of sight.
More guides on Finder
-
Critical illness insurance
All you need to know about critical illness insurance in Australia.
-
Oz Hair and Beauty discount codes and coupons January 2021
Oz Hair and Beauty have everything you need to look great and feel fabulous. Hair. Makeup. Skincare. Fragrance. Covered.
-
HDMI 2.1 explained: TV and gaming with PS5 and Xbox Series X
Here's everything you need to know about HDMI 2.1
-
How to start a YouTube channel
Read the key points of starting a YouTube channel, including the equipment you'll need and the legal considerations to keep in mind.
-
Best portable fridge freezers in Australia 2021: Single zone
There’s no shortage of cooling options when camping, working or 4WDing, but what are the best portable fridge freezers in Australia?
-
Christmas comedown: 1 in 4 Aussies worried about housing costs
One in four (25%) Australians are worried about how they will pay the rent or mortgage after Christmas, according to new research by Finder, Australia’s most visited comparison site. Find out how the Finder App can help save you money in 2021.
-
How much does a colonoscopy cost?
Find out how much a colonoscopy costs in Australia and how you can avoid paying heaps.
-
How much do veneers cost in Australia?
Find out how much veneers cost in Australia and how you can avoid being hit with a big bill.
-
How much do dentures cost in Australia?
Find out how much dentures cost in Australia and how you can get cover with mid-level health insurance.
-
Campervan hire in Melbourne | Where to book, what to know
Hit the road and experience the beauty of Victoria with a campervan from these companies.
Ask an Expert
