Will trauma insurance cover heart attacks?
Heart attacks are one of the leading causes of death in the world. It is considered as a silent and traitorous killer because it happens suddenly without a warning leaving someone dead or seriously affected for life. The good news is that:
- Many Trauma Policies in Australia will provide cover for heart attacks
- Some Trauma Policies will cover up to 50 different medical conditions
Is trauma insurance even necessary for heart attacks?
However, despite heart attack as a very common disease, there are many misconceptions and misinformation about the disease:
Heart attacks are no concern for women
- Studies, however, show that it is the number one killer for both men and women. A study revealed that in 2009 alone in Australia, 5141 women died of heart attack, while for men the number reached to 5194. It also revealed that heart attack is the number one killer among women followed only by lung and breast cancer [Source: Labi, 2011]. In fact, heart attacks killed twice the number of women than both types of cancer.
Heart attacks only occur in older people
- An additional study concerning heart attacks occurring in young people showed that 10% of heart attacks happen to men who are under 45 years old [Harvard Health Publications, 2009]. While 70% of young women under 45 have very high risks of a heart attack but are unaware of it [Dreyer, 2012].
A heart attack is defined as a disorder which is characterised by a loss of blood supply and oxygen to the heart muscle because of a blood clot in one the blood vessels connected to the heart muscle.
What factors can cause a heart attack?
There are different causes of a heart attack which are both controllable and uncontrollable. Aside from the age factor, other uncontrollable factors include family history and race. On the other hand, uncontrollable factors include high blood pressure, high cholesterol level, obesity, smoking, and diabetes. Your diet is also a big contributing factor to heart attack risk.
What are some symptoms of a heart attack?
Some of the common symptoms of a heart attack include chest pain, shortness of breath, dizziness, restlessness, and vomiting. However, the US National Institute of Health said that men and women experience different symptoms. The research further indicated that heart attack symptoms in women are not as predictable as in men. Therefore, medical authorities advise women who experience the following symptoms listed below should have themselves checked to prevent serious complications.
- Shortness of breath
- Unusual fatigue
- Sleep Disturbance
Will all policies define a heart attack like this?
No. It's essential that you understand what a policy will actually consider a heart attack (and when it will actually payout a benefit).
Insurers will usually focus on its severity
The first step before making a payout for a heart attack, is determining its severity. This is done by conducting tests and then putting the information through an algorithm. Depending on severity, some policies might cover a heart attack in different ways. For example, a trauma insurance policy might pay full benefits for a ‘severe’ heart attack, and only partial benefits for a ‘mild’ one.
Check how your policy defines severe
Remember that "severe" and "heart attack" may be two separate components. It can be useful to check how your insurer defines each when working out how easy it will be to successfully claim.
The problem is that different insurers will use different tests, and that these algorithms need to be updated as medical knowledge increases. When insurers are left using old tests or outdated algorithms their definition of a heart attack might also be out of date. For instance, some policies use Troponin levels as a measure of severity.
Look for a policy that accepts new forms of testing
Consider looking for conditions in your policy saying that an insurer will consider new medical testing and treatments if technological has advanced beyond the original tests set out in the policy.
Some Australian insurers have disproportionately high dispute rates, indicating that the Australian insurance marketplace may be using some very different definitions of heart attacks.
Look for a policy with a low rate of claim disputes
Look for insurers with a low rate of heart attack claim disputes relative to the total number of heart attack claims made against them. Some Australian insurers have disproportionately high dispute rates, indicating that the Australian insurance marketplace may be using some very different definitions of heart attacks.
Because of the traitorous nature of a heart attack, you should take all the precautionary measures and protection against it. This is especially true if you are a strong candidate for a heart attack or have already shown some symptoms. Prevention and protection does not only involve maintaining a healthy lifestyle but also other practical aspects such as insurance.
Having insurance to cover you has a lot of benefits especially when the medical bills pile up when you are hospitalised. By having cover, you don't need to worry of these extra medical expenses eating up your budget or drying up your savings. It will save you from a lot of stress and focus more on your rehabilitation because you have the funds you need.
From among the insurance products available in the market, trauma insurance covers heart attack and other critical illnesses such as cancer and stroke. Unlike some insurance products that pay you after you die, trauma insurance pays you the benefits the moment you are diagnosed with one of these critical illnesses. Aside from the financial assistance you will receive from the pay-out, the biggest advantage you can gain from trauma insurance is the power of choice.
- You have the choice of the best medical treatment there is.
- You have the ability to enjoy your time with your loved ones without worrying about your medical expenses.
- You have the choice to ask your spouse to take the time off from work without worrying about your daily expenses.
If you have suffered even a mild heart attack or the doctor has told you that your risk for a heart attack is high, it is advisable then that you act upon it and protect yourself - through a healthy diet and a comprehensive trauma insurance cover.
While you may know how to have a healthy lifestyle, you might be at a loss how to get a good trauma insurance deal. It is not impossible once you take some factors into consideration.
- Definition of Critical Illness - Each insurance provider has their own definition what a critical illness is, and a much more specific definition what a heart attack is. Before you enrol in a trauma insurance policy, know how your provider define heart attack. It will clear any misconceptions and expectations you have that might be a cause of problem later.
- Options - Look for payment options that insurance providers offer. You can also ask your employer if there are any insurance payment schemes your company has that you can avail of.
- Premiums - This answers your question, how much am I willing to be covered? The amount of your coverage will affect the premium you will pay for your trauma insurance.
Once you have these points considered, it is easier to find a trauma insurance policy that will work for your needs and your budget. It will also help you from getting sidetracked.