Trauma Insurance and Superannuation

Is Trauma Insurance available through superannuation?

  • Trauma Insurance is no longer available through superannuation following new legislation that became effective on July 1 of 2014. If you bought your policy before this date, read here.

What other options do I have inside super?

Other forms of insurance such as Life Cover, Any Occupation TPD and Income Protection are still available through superannuation.

Can I get trauma insurance by itself?

If you would like to discuss your current cover or look for Trauma Insurance funded outside of superannuation, you can make a secure application with an insurance consultant in the form below. Trauma insurance can usually be purchased as a standalone policy or bundled with life cover to offer additional protection.

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Coverage is the amount of money that you will be paid in the event of a claim. An insurance consultant can help you determine an appropriate amount. Calculator
Provides a lump sum payment if you become totally and permanently disabled and are unable to return to work.
Provides a lump sum payment if you suffer a serious medical condition. Cover can be taken out for 40-60 medical conditions depending on the policy you choose.
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Compare trauma insurance from direct brands

Product details Maximum cover Maximum Entry Age Cooling-off
NobleOak Trauma Insurance
NobleOak Trauma Insurance
Get trauma insurance cover for 38 medical conditions including heart attack, stroke and coronary bypass surgery. $2,000,000 59 30 Get quoteMore info

How was Trauma insurance in superannuation treated before July 1 2014

What if I joined my superannuation fund before July 1 2014?

You may be exempt from the changes and still entitled to trauma cover through your super fund. If you have rolled over your cover or your fund has been updated, you may lose the exemption. Check with your existing insurer if you're unsure.

Should I consider taking Trauma Insurance outside of superannuation?

To get the most out of your cover, you may want to consider trauma insurance outside a superannuation environment. If you still have a trauma plan held within superannuation, it may more affordable. However, having cover outside super allows you to access your trauma benefit much more easily and in a prompt manner.

With a lot less stringent rules and regulation to its superannuation counterpart, you will receive your benefit immediately upon a diagnosis of a medical condition that is covered in your trauma policy and cover your immediate financial obligations. On top of that, the lump sum benefit you receive with trauma cover will also be tax free.

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William Eve

Will is a personal finance writer for specialising in content on insurance. While he cannot give personal advice to clients, Will enjoys explaining the intricacies of different types of protective cover to help individuals and businesses find affordable cover that won't leave them underinsured.

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