Trauma cover for me - Trauma insurance - Online New Zealand

Many New Zealanders know someone who has suffered from a serious condition such as cancer, a heart attack or stroke.

Approximately 65% of TOWER trauma claims are for cancer.*

The physical toll of illness is often apparent, as is the emotional strain on the individual and their family. Adding to this strain can be the pressure of finances. Having a serious condition may mean you can’t work, which means your income may reduce or stop. Expenses can also mount up for treatment, rehabilitation, transport, modifications to your home and vehicle, as well as regular bills like your mortgage.

Trauma Cover is designed to help at this time. This enables you to focus on your health rather than worrying about your finances.

The policy provides you with a lump sum payment if you are diagnosed for the first time with one of 44 serious medical conditions. The amount of the lump sum payment will be determined by the level of cover you choose when you take out a policy – you can decide how much money you would need in this type of situation.

On top of providing a lump sum payment for the 44 listed conditions, this policy also provides partial payments for a number of other medical conditions. Find out what they are here >>

Features of Trauma Cover

Once you’ve decided that Trauma Cover is right for you, and selected your level of cover, the next decision to make is whether you want Stand Alone or Accelerated cover. Stand Alone cover means your policy is independent from any other life insurance policies you may have – you don’t need to take out any other policies to get Stand Alone Trauma Cover, and any that you do have won’t be affected if you make a claim. The more cost effective Accelerated Trauma cover is taken out in conjunction with TOWER Life 360® Life Cover and when you make a claim on your Accelerated Trauma Cover policy, your Life Cover policy will reduce by the amount of your claim.

With either format, Trauma Cover offers you:

Up to $2 million of cover
If you’re diagnosed with one of the covered conditions, you will receive a lump sum payment amounting to your chosen sum insured (up to a maximum of $2 million). You can use this money however you wish. In the past customers have used this to help pay for their treatment or rehabilitation, pay the bills while they’re off work, or take their family on a holiday.

For no extra cost you’ll also receive:

Children’s Trauma Benefit
Something a parent never expects is for a child to become ill. This benefit provides up to $50,000 if your child aged between two and twenty (inclusive) is diagnosed with one of the conditions listed under this policy. It allows you to focus on your child’s recovery – paying for treatment, travel or to replace your lost income while you take time off to look after them. It also provides the option for your child, once they turn 21, to take out their own Trauma Cover policy.
Paralysis Assistance Benefit
Paralysis can have more of an impact on your quality of life than other conditions. We know this can mean additional costs and expenses for you and so with this benefit we’ll double your Trauma Cover claim payment, up to $1 million. For instance, if your sum insured is $250,000 and you suffer from paralysis, we’ll pay you $500,000, and if your sum insured is $600,000 we’ll pay you $1 million.
Grief Counselling Benefit
If you suffer from a serious condition, you or your family may have trouble coming to terms with what has happened. This benefit will reimburse you for counselling costs up to $1,500.
Financial and Legal Advice Benefit
After suffering from a serious condition and receiving a substantial lump sum payment from your Trauma Cover policy, you may be unsure of what to do with your money. This benefit will reimburse you for financial advice or legal costs you may incur to determine what to do with your claim payment, up to a maximum of $1,500.
Coronary Artery Angioplasty Benefit
Needing a Coronary Artery Angioplasty can be traumatic but early intervention, when only one or two arteries are involved, may provide a better outcome for you. Recognising the impact this procedure can still have, we will provide 25% of your sum insured, up to $50,000, if you undergo a Coronary Artery Angioplasty for two arteries or less.
Return to Home Benefit
If you’ve undertaken the great New Zealand tradition of working overseas, but suffer from a serious condition that’s listed under this policy after working outside of New Zealand for at least three months, this benefit will reimburse the costs, up to $10,000, of economy airfares for you and a support person to return to New Zealand.
Support Person Travel and Accommodation Benefit
You might not always have a treatment centre nearby. If you need to travel elsewhere for your treatment we understand that you may want to take a support person with you. This benefit can help with transport costs, such as bus, train or plane, as well as accommodation costs incurred by your support person.
Special Events Increase Benefit
It’s important when you take out insurance cover that it keeps up with the changes in your life. This benefit allows you to increase your cover when you experience one of life’s bigger events, including marriage, children and taking out or increasing a mortgage. Your premium will be adjusted for any sum insured changes you make.
Diagnosis Benefit
We recognise that there are some conditions that can come as a bit of a shock when diagnosed. These could include conditions which although minor now, could develop into something more serious. This includes the diagnosis of renal failure, which could progress to daily dialysis. We will provide a partial payment of your sum insured for these conditions at the time of diagnosis.
Bone and Joint Partial Payment Benefit
We recognise that bone and joint conditions, such as Severe Osteoporosis and Severe Rheumatoid Arthritis can have a big impact on your life. Whilst these conditions may not be eligible for full lump sum payments, this benefit allows for partial payments of your sum insured should you suffer from Severe Osteoporosis before the age of 50 or Severe Rheumatoid Arthritis before the age of 30.
Life Cover Buy Back Benefit
If you’ve selected the Accelerated option on your Trauma Cover policy and you make a claim, your Life Cover policy will reduce by the amount of your claim. This benefit gives you the chance to increase your Life Cover sum insured back to the initial amount either six or 12 months after your claim is paid. Your premium will be adjusted for any sum insured changes you make.

Full details of policy limits and conditions covered are available in the policy document below.

Optional features of Trauma Cover

For an extra premium, you can add any of the below options to your policy:

Inflation Protection Option
When you take out Trauma Cover, you’ll want the assurance of your selected cover amount keeping present day value. By including the Inflation Protection Option, we’ll increase your cover each year by the Consumer Price Increase – the Government’s method of inflation calculation.
Trauma Cover Buy Back Option
Once you’ve had the benefit of a trauma claim payment, you might not want your cover to end. With the Trauma Cover Buy Back Option you can reinstate your cover (excluding the condition or any related condition that has already been paid out) 12 months after your first claim.
Advance Payment for Cancer Option
Some cancers may not be considered life threatening and won’t be eligible for full claims payments. We recognise that these cancers, including early stage melanoma and early stage prostate cancer will still have a big impact on your life. This option provides a portion of your sum insured if you suffer from certain non life-threatening cancers.

Full policy details for Trauma Cover

When it comes to taking out any sort of insurance for you and your family, you want to understand what’s covered. You should read the policy document before you take out cover, so we’ve attached it below. We’re here to help, so if you have any questions about what’s covered or what a particular term means, give us a call.

TOWER Life 360® Trauma Cover Brochure
TOWER Life 360® Trauma Cover Accelerated Policy Document
TOWER Life 360® Trauma Cover Stand Alone Policy Document
TOWER Life 360® Base Policy

Get a quote and purchase Trauma Cover

If you’re interested in finding out more about Trauma Cover, getting a quote or taking out a policy, we can talk you through the options in the most convenient way for you: