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Trauma insurance, also known as critical illness insurance, plays a crucial role in Australia’s individual protection landscape. This type of insurance cover provides a lump sum benefit if you are diagnosed with a specified serious medical condition or trauma. Many Australians combine trauma insurance with life insurance or term insurance to provide comprehensive financial protection for themselves and their families.
#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply
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Trauma insurance, or Critical illness insurance, is a type of insurance that pays out a lump sum if the policyholder is diagnosed with or suffers from a listed critical condition. These conditions may include:
Heart attack
Cancer
Stroke
Major head trauma
Multiple sclerosis
Organ transplant
Severe burns
Term Plans
Here is how trauma or critical care insurance differs from term and life insurance plans in Australia:
| Feature | Trauma Insurance | Term Insurance | Life Insurance |
| Benefit Payout | On diagnosis of listed medical conditions | On death or terminal illness | On death or terminal illness |
| Payout type | Lump sum | Lump sum or monthly income | Lump sum |
| Purpose | Cover medical costs, lifestyle adjustments | Income replacement or debt protection | Estate planning, financial support |
| Ownership | Typically self-owned | Self or jointly owned | Self or jointly owned |
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Australian household income often relies heavily on one or two income earners. A serious illness can impact the ability to earn, adding financial stress on top of health concerns. Critical illness insurance provides flexibility by:
Covering out-of-pocket medical expenses not included in Medicare or private health cover
Paying for rehabilitation or home modifications
Replacing lost income if you are unable to work
Allowing time off work for recovery without financial stress
Trauma insurance may be suitable for:
Families with a mortgage and dependent children
Self-employed individuals without access to sick leave
Single-income households
Those with a family history of chronic diseases
Many Australians consider combining trauma insurance with term life insurance to build a well-rounded protection portfolio. While trauma cover provides financial support during recovery, term insurance ensures your family is financially secure in the event of death or terminal illness.
You can also select income replacement benefits with term insurance, where the payout can be structured as a regular monthly income instead of a lump sum. This approach helps replicate the lost salary for the family, easing their financial transition.
When reviewing trauma or serious illness insurance quotes, consider the following:
List of covered conditions
Definitions and exclusions
Partial benefit options
Waiting periods and survival periods
Premium type (stepped vs level)
Note: Term life insurance quotes vary based on age, smoking status, and benefit amount.
Non-Resident Indians (NRIs) living in Australia can also secure term insurance for NRI from India. This can be beneficial due to:
The premiums for term insurance for NRI are much more affordable than international term plans
Claim GST waiver of term insurance of 18% and an annual discount of 5% on premiums
The tele/video medical checkup feature with term insurance ensures that you don’t have to travel all the way back to India just to get your medicals cleared
By purchasing online, you can save yourself from the hassle of
Optional critical illness riders are available with select term insurance providers
You can buy term life insurance for NRIs in the following ways from India:
Step 1: Visit the Policybazaar’s term insurance for NRI page
Step 2: Fill in your name, gender, contact information, and more
Step 3: Choose the right smoking habit, annual income, educational qualifications, and occupation type
Step 4: Select the best term insurance plan and proceed to pay
Whether you are safeguarding your household from income disruptions due to illness or planning long-term protection, trauma insurance and term insurance are essential tools in Australia’s financial planning environment. By understanding what critical insurance covers and how it complements life and mortgage protection policies, individuals can make informed decisions tailored to their needs.
˜Top 5 plans based on annualized premium for bookings made on https://www.policybazaar.com in the first 6 months of FY 24-25.
Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
+Rs. 487/month (Rs.16/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited
We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881
For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale
Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.
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+Rs. 820/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
+Rs. 1,443/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
˜ Policybazaar Promise reflects the guarantee offered by insurers. Price assurance is based on certifications shared by insurers with us.
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