Trauma Cover

At a glance:

  • Trauma cover will sum if you suffer from one of a number of critical illnesses and conditions
  • This benefit is available either in conjunction with Life Assurance Cover, where a claim will reduce the life cover or on its own (stand alone benefit)

Why you need it:
The diagnosis of a serious illness is devastating in any circumstances but the burden will be far greater if your financial security is also put at risk.

A person suffering from one of the four main critical illnesses (heart attack, heart disease, cancer or stroke) has a nearly 50% chance of surviving up to 10 years beyond the critical incident. However, in many cases, this involves a reduced working capacity and necessitates significant lifestyle changes and costs. A lump sum benefit can make a real difference in meeting these costs.

Key facts:

Ages

  • Entry age is from 16 to 64 (stand alone) or 69 (accelerated).
  • You are covered for your life (accelerated) or to age 70 (stand alone)
Premiums
  •  Payable fortnightly, monthly, half-yearly or yearly
  •  Premiums are fixed for one year at a time and will normally increase annually in line with age

Level of cover

  • You can “inflation proof” your cover by increasing it each year in line with the CPI.
  • Angioplasty, aorta surgery, cancer, cerebrovascular accident (stroke) myocardial infarction (heart attack), coronary artery bypass surgery, heart valve surgery and out f hospital cardiac arrest are not covered if they occur within the first three months of the policy.

Standard features

  • If you add this cover to Life Assurance Cover, you can select it as either an accelerated benefit or a stand-alone benefit.
  • If a claim is paid on an accelerated benefit, the claim amount will be deducted from the life cover of your policy.
  • If a claim is paid on a stand-alone benefit, the payment will not reduce the life cover under the policy.

Child’s benefit

At no additional cost, all your children (either by birth or legal adoption) aged between 2 and 18 years are covered for the lesser of $50,000 or 20% of the parent’s trauma sum assured should they be diagnosed as having one of the trauma conditions. The child must survive for a period of 14 days.

Optional benefits:

Inflation proofing

To ensure your benefit keeps pace with inflation, you can choose to have your policy cover increase each year in line with the Consumer Price Index, regardless of health. Each year the insurance company will advise the level of indexation, which you can choose to accept or decline. There is no limit on the number of times you can decline this option. If you accept the indexation offer, premiums will be increased to reflect any adjustment.

Waiver of premium

For an additional premium, any future premiums are waived during a period of disability. Following the occurrence and continuation of your disability, Fidelity Life will pay your premiums until your disability stops.

Total and permanent disability extension

Provides financial protection against total and permanent disability with a lump sum payment.

Children’s trauma

Provides stand-alone trauma cover up to $60,000 for the full range of trauma conditions.

This option requires payment of an additional premium.

Trauma cover conditions:

  • Accidentally acquire HIV
  • Adult-onset insulin dependent diabetes mellitus
  • Alzheimer’s disease
  • Angioplasty*
  • Aorta surgery*
  • Aplastic anaemia
  • Benign brain tumour
  • Cancer*
  • Cardiomyopathy
  • Cerebrovascular accident (stroke)*
  • Chronic liver failure
  • Chronic lung disease
  • Chronic renal (kidney) failure
  • Cognitive impairment
  • Coma
  • Coronary artery bypass surgery*
  • Dementia
  • Encephalitis
  • Heart valve surgery*
  • Intensive care
  • Loss of independent existence
  • Meningitis/meningococcal disease
  • Motor neurone disease
  • Multiple sclerosis
  • Muscular dystrophy
  • Myocardial infarction (heart attack)*
  • Occupationally acquired HIV
  • Open heart surgery
  • Out of hospital arrest*
  • Paralysis – diplegia, hemiplegia, paraplegia, quadriplegia, tetraplegia
  • Parkinson’s disease
  • Pneumonectomy
  • Primary pulmonary hypertension
  • Severe burns
  • Severe osteoporosis
  • Severe rheumatoid arthritis
  • Total blindness
  • Total deafness
  • Major head trauma
  • Major organ transplant
  • Loss of limbs and/or eyes
  • Loss of speech

* 3 month wait period from commencement applies