Trauma Insurance

Trauma, Recovery or Critical Illness Insurance, as it is sometimes known, gives you financial freedom if you become critically ill and require extensive medical treatment to recover.

It allows you the financial freedom to access the best medical treatment available, pay for your rehabilitation, and cut back on your work hours to concentrate on your recovery. At MIH Insurance Solutions we have seen first hand the importance of Trauma Insurance and how it can benefit families should a member suffer a serious illness.

Trauma Insurance covers you for up to 40 serious medical conditions with the most prevalent being cancer, stroke and heart disease.

How much do I need?

There is no set amount of Trauma Insurance you should have. The amount you may need is calculated based on a number of factors, like your:

  • income - how much you earn today (and tomorrow!)
  • dependants - do you have children or other financial dependants?
  • debts - do you have a mortgage, loan or other debts?
  • assets - have you accumulated any assets over the years, like property or shares?

At MIH Insurance we will be able to understand your individual circumstances, and then make sure you have the right amount of cover and the right policy to meet your unique needs.

Cancer survival rates are on the rise.

The good news is that cancer survival rates are improving. Australia's 5 year cancer survival rates have increased significantly over the last 15 years.

  • 88% of women now survive breast cancer - up from 72% in the 1980s.
  • 85% of men survive prostate cancer - up from 57% in the 1980s.

But while medical advancements and early detection allow us to be ever-more hopeful, cancer still has a big impact on the lives of those it affects - and their families. A significant part of this impact can often be financial.

  • Cancer costs Australian families an average of $50,000 when someone in the family is diagnosed with cancer. That includes loss of that person's income, or the income of a carer.
  • Treating cancer costs about $9,000 in out of pocket costs. 

Financial security and the best treatment available can make a real difference.

Source Asteron Life