Trauma
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.
Although there is a one-in-three chance of suffering from a serious llness before age 65, current survival rates mean that many patients go on to make a reasonable recovery and enjoy a good quality of life.
Historical data indicates that 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 for 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, e.g.
- Medical treatment and hospitalisation
- Overseas travel or treatment
- Time off work with no income
- Early retirement from the workforce
- Mounting debts and mortgage repayments
- Supporting a business even though you can’t work
- A partner having to stay home to nurse you
Total and Permanent Disablement (TPD)
While for most people the early death of an income-earner would cause serious financial strain for those left behind, the
financial impact would be just as serious if that income-earner became totally disabled and unable to work for the rest of their life.
In some cases the hardship experienced would be even more profound as ongoing daily living and medical costs for the
disabled person could be significant.
