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Trauma Insurance - Why do we need it?

I received an email from Clear View (Insurance) this morning and I thought I would share it with you.

Why Trauma is Trauma Insurance so important?

42,000 Australians are diagnosed each year according to the article, who cannot afford the treatment for these cancers. We would all know someone who has who has suffered from a trauma condition who are not covered under a trauma policy. We know the affects it has on a family and the person suffering.

A trauma payout is a tax free lump sum payment that can be used to:

  • Pay of a mortgage and or take a holiday

  • Used form income to allow the patient to take time of work

  • To finance changes to your home to accommodate an adjusted lifestyle

  • For additional medical expenses that Health Insurance doesn’t cover

Typically, when thinking of medical expenses, most would tend to think of out-of-pocket expenses for doctors, surgeons, chemotherapy etc. What is the cost though, for drugs/medication that are not on the PBS list?

The lady this article is about, Tracey, has devastatingly been diagnosed with a Stage 4 cancer, despite never having smoked. As the article stipulates, Lung Cancer is the leading cause of death in Australia, accounting for approx. 19% of deaths each year.

Her cancer is known by ROS1, a very rare type of cancer. In fact, there are 186 cancer types that are deemed “Rare”. And whilst they are rare, these cancers collectively account for 25% of cancers diagnosed, and almost 40% of deaths as this article has researched.

According the the article, 42,000 Australians are diagnosed who cannot afford the treatment for these cancers. Why? As the treatments try to prolong life as much as possible, the costs are as much as $7,000 per month. If you do not have that money, and don’t have insurance, what are you going to do? Tracey did not want to get her family in debt. We’ve heard of gofundme pages whereby people admirably try and raise funds for people hit by these hideous diseases.

Trauma Insurance is a necessity. Even if it’s at a reduced amount, at least there’s something.

Our thoughts are with Tracey and her family and we hope for nothing but the best.

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