Trauma insurance
Trauma insurance offers protection by providing a lump sum payment in the event of the life insured is diagnosed as suffering from one of a range of specified medical conditions (eg. a heart attack, cancer, or stroke). The lump sum payment can be used to avoid financial stress during the period of recuperation where items such as home modifications and specialist medical attention may be necessary.
Essentially, trauma insurance provides a lump sum payment for those who suffer a major health trauma as defined in the relevant policy. The main medical conditions are heart attack, cancer or stroke and many policies cover more medical conditions.