In just a short few months we paid out close to $2.1 million in trauma claims. This has helped take away the financial stress for a number of clients suffering trauma or serious illness – allowing them to put 100 percent of their focus into recovery.

How much cover do you need?

There are various trauma policies on offer, covering you for up to 45 different conditions. However 90 percent of the claims are made on cancer, heart attack and stroke. In most cases trauma cover provides a lump sum payment on diagnosis. How much depends on the amount of cover. While there is no right or wrong answer for how much this should be, we suggest that it allows for at least two years salary based on the highest income.

In a Nutshell

Trauma cover is an important and affordable cover to include in your portfolio. With this protection in place, should a serious illness strike your “plan B” is sorted – you’ll have a lump sum in the bank and no need to worry about where the next dollar is coming from – so you can focus on your recovery!

To find out the best trauma cover for your situation get in touch with your Prosper adviser.