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How Trauma Insurance Works


Trauma insurance works by protecting people financially when they are struck with medical problems such as cancer, stroke, heart problems or loss of limbs. Basic trauma policies cover only limited policies where as comprehensive policies offer coverage for a few additional problems such as partial deafness, partial loss of speech and partial blindness.

The benefit of this type of insurance is that the policy holder receives a lump sum amount when he is diagnosed with a medical condition that is covered by the insurance plan. Buyers also have the option to add a death clause to the insurance plan and through this clause their family will get financial aid when the policy holder passes away. Another benefit of opting for this type of insurance plan is that both the policy holder and the family do not have to worry when the policy holder falls ill, since they know that they will receive a compensation amount from the insurance company. Knowing this, makes life a lot easier for many people who are in the high risk group.

Trauma protection insurance is not like life insurance or health insurance since in the case of both life and health insurance the policy holder has to pay an excess, which is not the case with trauma plans. Also, health insurance plans offer compensation or reimbursement of medical bills and life insurance plans offer compensation after the death of the policy holder, where as trauma policies offer compensation when the person has been diagnosed.

To get the decided lump sum amount, the policy holder has to file a claim within a certain number of days after being diagnosed. In most cases insurance companies make the lump sum payment when the policy holder has been diagnosed but in some cases the policy holder may have to wait up to 14 days to get the compensation amount.

Trauma insurance isn’t mandatory however, people who have pre existing medical conditions or a family history of fatal medical conditions benefit from opting for trauma insurance. Since trauma plans can be customized to suit the buyer’s needs, the buyer can add extra conditions to the plan for an extra fee. Buyers should remember that certain medical conditions are not covered by many insurance companies hence it is always better to get a full list of covered medical conditions before buying an insurance plan. By opting for the right plan and by filing a claim on time, policy holders can ensure that their families do not have to suffer when the policy holder is admitted in the hospital for any medical procedure.


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