Can I Receive a Trauma Insurance Benefit Payment for Loss of Speech?
The devastating affect loss of speech can have on a person can be quite alarming. Such a traumatic event interferes with the person's ability to satisfactorily communicate with those around them and this in turn frustrates both the person with the ailment and his or her friends and acquaintances. For this reason life insurance companies have seen it fit to include loss of speech as a traumatic event covered in their traumatic insurance policies.
Loss of speech is known as aphonia
Complete loss of your ability to speak is known as aphonia. It is caused by the vocal cords not coming together to vibrate as a result of the airflow from the lungs. It is this ability of the vocal cords to meet that produces the sound we call a voice. When the vocal folds fail to meet in order to vibrate, no sound can be produced, resulting in aphonia. The loss of voice may be permanent or it may come and go over time. Some sufferers find that their condition worsens at night, others find their ability to speak improves following sleep. The reason for these variations is unknown.
Trauma insurance will cover loss of speech as a critical illness
Trauma insurance, otherwise known as critical illness insurance, can give you protection with an addition cover included on your life insurance policy or you may choose to take out the cover as a stand alone insurance policy. Whichever manner you choose, loss of speech is one of the specified illnesses that is listed as claimable in such insurances. Many people take the view that trauma insurance is not required because of the cover given by Medicare or private health insurance but what should be taken into account is how such an infliction could affect your ability to keep your current job. It could mean the loss of your ability to earn an income and this could have serious implications, such as who is there to continue paying the mortgage and other debts you may have acquired when your future looked much brighter.
As a result of losing your speech you could be faced with a complete overhaul of your present working conditions such as:
- Finding a more suitable job match – one that requires minimal verbal communication. A job restricted to you using a lap top or other computers to enable you to express your thoughts and ideas.
- The availability in your place of employment where you can more fully utilise fax machines, email, MSM messaging or text messaging to allow you to limit any face to face verbal requirements.
- Flexibility of work hours. This is of particular importance if your aphonia only affects you in a sporadic manner at certain times of the day.
- A supporting and understanding work environment.
- The use of adaptive technology to take the place of your voice loss.
An important benefit that is available under trauma insurance offered by a life insurance company is that of a trauma reinstatement option. This particular option, that follows a successful trauma cover claim, will allow you to continue your trauma cover (in some form) for a further 12 months. Other benefits will be your ability to access sufficient funds to:
- Cover any further medical costs such as rehabilitation etc.
- Pay off outstanding debts including your mortgage.
- Allow you to retain an income stream while not being able to work.
- Cover the costs that may need to be made to your home or vehicle to make life easier for you.
Your trauma insurance policy, if attached to your life insurance policy, will, if a successful claim has been made, cause your life insurance cover to be reduced by the amount of the trauma pay out. However most life insurance companies will include a life cover buy-back that will allow you to recommence the life cover that had previously been reduced, twelve months after a successful trauma claim. Some life insurance companies offer a double trauma benefit. Such a benefit will allow a buy-back life insurance cover to be activated 14 days after a successful trauma claim has been made. In some instances future premium payments for the life cover are waived.
Parents can have their children covered as well as themselves
Parents can also include trauma cover for their children by including a list of conditions for minors onto their own trauma policy document. The benefit to be gained by taking out such cover is that if the child happened to be stricken by one of the listed conditions, a lump sum payment would be made available to take care of any financial loss that may occur through you having to take time off work to care for the child.