Coming to terms with a serious illness or accident, or coping with the death of a loved one, is extremely challenging at the best of times.

Few things will make the emotional strain worse than having to worry about the state of your finances. Things that seemed surmountable before – like paying off your mortgage, supporting your family, or meeting debt obligations – can suddenly become a huge and unforeseen burden on just one income.

That’s why life and trauma cover is so important. If the worst happens, they’ll allow you to focus on what matters, and to continue your life without extra financial burdens.

Life cover

Life insurance pays a lump sum upon the death or terminal illness of the life insured. This can help your loved ones meet financial obligations such as funeral expenses, debt, mortgages, living costs, children’s education, or the cost of retirement. It can also allow them time to grieve without financial burdens, at a time when they need it most.

Another key factor with life insurance is making sure the policy ownership is structured correctly, so that the money is able to be released to your dependants through the correct vehicle without having to go through Probate which takes a minimum of 6 months to completed and can be contested.

We can work with you to figure out the levels of cover required, the appropriate type of cover and the correct ownership structure to make sure the right amount goes to the right hands at the right time in the best manner for you and your family’s situation should the worst happen.

Trauma cover

Trauma cover provides a lump sum in the event of a serious illness or injury, covering around 58 different conditions (including partial payments) for example the three most claimed on conditions being cancer, heart attack and stroke.

Trauma pays out a lumps sum which can improve your ability to cover medical expenses and afford high-quality treatment, rehabilitation, purchase equipment required to make life easier or take a relaxing holiday with your family!

This can also allow you to take some time out to ensure a full recovery, or a loved one could take time off to take care of you. Statistics show people who are not financially stressed, through these type of events, will commonly have a much faster recovery.

Come and talk with a One50 adviser to make sure you have Trauma cover as part of your risk plan.