Importance of Trauma & Income Protection from a young age


December 10, 2015


Trauma and Income Protection insurance are normally taken out by clients once they go into debt or have a family. However, it is vitally important even at a young age to ensure costs can be covered for specialist medical treatment especially when it is not covered by the PBS (Pharmaceutical Benefits Scheme) system. This article is a stark reminder of the specialist costs associated with some cancers.

Jess is a 26 year old newly wed, with a rare blood cancer. Her treatment is not on the PBS and costs her $7,500 per month. The treatment would be on the PBS had she been diagnosed with Lung cancer. The angst and frustration that must be caused by not being diagnosed with the ‘right’ type of cancer must be traumatising in itself. She currently only has enough funds to pay for the treatment until Christmas.

There are 42,000 patients diagnosed with a rare cancer each year, of which the vast majority would not have their medications covered by PBS. Trauma cover can assist by providing financial relief in these circumstances.

This story reinforces the impact of seeing an adviser.

Related Articles

2019 Industry Claims

August 5, 2020

New data from the FSC, exploring the gender differences for claims, shows that the top cause of death claims is cancer for both men and women, but at a far higher percentage for women, and that for TPD claims, mental health disorders tops the list for both men and women at 24 percent and 27 percent…

Read more

Poole Group is here to support you! Whilst we are continuing to operate as usual, we only have skeleton staff working at our office.  The majority of our team is now connecting securely to our server from their home. This ensures minimal disruption to providing you with our standard quality services.

Read more