Saturday, January 4, 2014

Insurance MythBusters: "You have to be critically ill to claim on your Trauma Insurance"

I hope everyone out there had a fantastic Christmas and New Year. The weather was disappointingly a little iffy, but the spirit of the occasion endures beyond surface level things like that, so I hope you valued your time with family and friends.

Mythbusters is one of my favorite shows. Science, interesting facts, big explosions and old wives tales being put to the test. What's not to love? I brought it up in the office and asked our team what they thought the biggest myths are regarding insurance that are out there, and this one was among the first they mentioned (stay tuned for more!).

Busting insurance myths may not involve as many cool explosions, but they could result in an explosion of cash in your wallet!

A lot of people think that Trauma insurance cover means just that. 'Only for significant trauma'. Significant trauma as in, life threatening or critical ailments and conditions. Certainly these conditions are usually covered, but there are often far more that you can claim for that most people are completely unaware of.

Conditions such as deafness and procedures such as an angioplasty are mostly not critical conditions, and yet you can sometimes make a claim for them just as readily as the others. The actual conditions that you can claim for may differ depending on the insurance provider, but we've had many people we're connected to surprised when they've brought up a condition, and we ask them if they've claimed for it. One in particular had a cancerous mole removed from their arm. He didn't think much of it and during our annual review with them, he just brought it up to us in casual conversation. He was more than happy when we consulted and found it met the conditions on their policy for a claim they didn't even know he was entitled to!

So if you do have a Trauma Policy, take a close look at the policy wordings so that you'll know exactly what's covered and what's not (it can differ between insurers and between plans). OR, if the confusing technical language is a bit too much for you, good news. We have a user friendly, easy to understand brochures that can help. Just let us know and we can send you one out free of charge. If you have any other questions, let our expert admin staff know.

Conclusion: Squarely busted. There are literally all sorts of conditions and procedures that are not critical or life threatening that may be covered under your Trauma Insurance. So if you don't have a policy and this belief was holding you back, don't let it any longer. If you do have a policy, take a look at precisely what's covered. You might have a pleasant surprise in your future.

1 comment:

  1. Great article ...Thanks for your great information, the contents are quiet interesting. I will be waiting for your next post.