Why Choose Westpac Well Trauma Insurance?
Getting well and staying well might seem easy when you're young, but as you get older and become exposed to greater risks in your everyday life and simply through the process of ageing, the process of staying strong and healthy can become a little more unpredictable. Therefore, rather than wait until you are faced with towering medical bills in the face of an emergency or unexpected diagnosis, start looking at living insurances such as Westpac Well now, to make sure you never have to worry about how you're going to afford to stay well into the future.
Key Features of Westpac Well Insurance
If you suffer one of the medical conditions covered in the Westpac Well policy, you can make a claim for a lump sum benefit to be paid to you, to help you meet medical bills and treatment costs. You can also use your benefit for paying household bills which may be outstanding because you haven't been able to work your normal hours. Westpac Well insurance also features:
- Coverage until you're 65 years oldAs long as you keep your premiums current you are guaranteed coverage for the listed illnesses and injuries in your Westpac Well policy until you reach 65. This means your cover will never be cancelled, even if you take up a risky habit, occupation or pastime, or if your health changes. This is why it is a good idea to take out Westpac Well even when you are young and well, so you'll have guaranteed coverage when you're more likely to need it.
- Living benefit of up to $200,000You can choose a benefit amount of between $25,000 and $200,000 to suit your budget now and your financial needs in the future.
- Waiting periodsIf you make a claim on your Westpac Well because of cancer, coronary artery bypass surgery, heart attack or stroke, there is a three month waiting period from the commencement date of your policy. If you increase your benefit amount and claim for one of these conditions within three months your benefit will not reflect this increase.
- Death benefitThe benefit on your Westpac Well policy is payable if you survive for 14 days after one of the eligible conditions or surgeries. If you die at least 14 days after one of these eligible medical conditions, your family will receive a $5,000 benefit to help with final expenses.
Medical Conditions, Procedures and Illnesses Covered by Westpac Well
To give you an idea of the coverage offered by the Westpac Well policy, following are the conditions and procedures you may be able to claim for:
- CancerYou can claim for a malignant tumour, including Hodgkin's disease, lymphoma and leukaemia. Some skin cancers and tumours may be excluded.
- Coronary artery bypass surgeryYou are eligible to claim for coronary artery bypass surgery, where it is the most appropriate treatment for the disease. Angioplasty, laser or other intra arterial procedures are excluded.
- Heart attack Westpac Well defines an eligible heart attack as the death of a portion of the heart muscle as the result of inadequate blood supply.
- Paralysis Paralysis is the total and permanent loss of the use of both arms, both arms and legs, one side of the body or both sides of the body, as the result of an illness or accident.
- Stroke You can claim on your Westpac Well policy if you have a stroke which results in a neurological deficit of at least a 25% permanent impairment of whole person function.
- Loss of independent existence You can claim a benefit payment if you become unable to perform any two of the following daily tasks because of illness of injury: bathing yourself, dressing yourself, toileting, mobility to get in and out of a bed or chair, continence, or feeding yourself.
- Kidney failureKidney failure Is defined as end stage renal failure, which is a chronic irreversible failure of both kidneys to function.
- Multiple sclerosis You can make a claim if you are diagnosed with Multiple Sclerosis which causes at least a 25% permanent impairment of whole person function.
How to Apply for and Manage Your Westpac Well Insurance
You don't need to take any medical tests or blood tests to apply for Westpac Well. Instead, you simply need to provide a health declaration, and anyone between 18 and 54 years old can apply. Your premiums are then calculated on your health and lifestyle risk factors such as your age, gender, your smoking status, as well as the level of cover you're applying for. If you apply for cover with your partner, you can get a 10% discount on your premiums. Your premiums can then be paid by credit card, or via automatic direct debit from your account.