If you or a family member is diagnosed with a serious illness, a trauma policy will pay out a lump sum to cover expenses and compensate you for your trauma. Trauma insurance helps to cover the costs of medical and rehabilitation expenses, providing financial support to aid your recovery after significant medical events and temporary and permanent disabilities. The lump sum can be used to pay for support services and counselling, and additional or alternative treatments that may not be covered elsewhere. We can arrange customisable options to fit your needs to help your family during a difficult time.
In New Zealand, trauma insurance payouts are generally not subject to income tax, as they're considered personal injury compensation. However, it's always a good idea to consult with a tax professional to understand your specific situation.
While you can typically secure trauma insurance even with pre-existing conditions, claims related to those conditions may not be covered. It's crucial to discuss these details with your insurance adviser to fully understand your coverage specifics. Remember that NZ Insurances is on your side. Your full disclosure helps us represent your interests effectively. By understanding your complete health situation, we can navigate the complexities of trauma insurance on your behalf, to secure the best results for you.
When buying your policy, you can choose how much your trauma insurance will pay out. This is not linked to your income or assets, but should be considered based on your personal needs and financial commitments.
Trauma insurance typically covers serious illnesses or injuries, such as cancer, heart disease, and stroke. The exact conditions covered will depend on your policy, so it's essential to review this thoroughly.
While health insurance covers the cost of medical treatments, trauma insurance provides a lump-sum payment that you can use however you need, such as paying for rehabilitation, home modifications, or even taking time off work for recovery.
Trauma insurance, also known as critical illness insurance, provides a lump sum payment if you're diagnosed with a specific illness or injury, such as cancer, heart attack, or stroke. It's designed to help you manage medical costs and maintain your lifestyle during recovery.
