life/health insurance ideas

**MrsHills** · 22-02-2011, 01:05 AM

I have noticed that cancer seems quite prevalent here in Australia, or perhaps people just talk about it more here!
I am thinking of getting the family life cover but want something that pays out if any of us are struck down with an illness which doesnt kill us but where we cant work for a while/every again. I think we would want something which pays out a lump sum rather than weekly/monthly amounts...ideas/views anyone??

**Andrew Williams** · 22-02-2011, 03:16 AM

Originally Posted by MrsHills

I have noticed that cancer seems quite prevalent here in Australia, or perhaps people just talk about it more here!
I am thinking of getting the family life cover but want something that pays out if any of us are struck down with an illness which doesnt kill us but where we cant work for a while/every again. I think we would want something which pays out a lump sum rather than weekly/monthly amounts...ideas/views anyone??

Hi there

The types of cover that you are talking about would be Critical Illness cover also known as Recovery or Trauma cover and Total and Permanent Disability cover.

A brief description for you:

Total & Permanent Disability (T.P.D) – This cover pays out a lump sum to a person if they are unable to work in their occupation or occupation that they are trained or qualified for (as diagnosed by 2 Doctors) or in the event of people working less than 15 hours a week are unable to carry out every day living duties. This cover can be held within superannuation.

Critical Illness Cover– This cover will pay out a lump sum of money on diagnosis or a specified critical illness ie cancer, stroke, heart attack etc. This cover is designed to cover medical costs and provide some money to aid recovery ie time off work, holiday etc, also potentially clear any debt depending on clients circumstances. This cover cannot generally be held inside superannuation.

Hope this helps.

Andy

**KSmi** · 08-03-2011, 01:38 AM

Oh! That's a very interesting question. Been looking for a new insurance and that never crossed my mind. Tsk. I should probably ask that question from this health insurance site. Been keeping tabs on them--heard good reviews.

**phabad** · 15-06-2011, 02:23 PM

Hi everyone! I hope you are all doing ok. Im doing some research regarding coal mining pollution and illness that you can get. Need help cause someone is making a claim with their insurance http://www.coalminesinsurance.com.au and i have some free time to spare and do some research. Does anyone know of any blogs or forums where I can get more info? Thanks in advance :)

**cormcvcr** · 13-07-2011, 10:41 AM

Hi, I know the question you are asking for is specific to cancer, but... we have life insurance with TPD cover. I was involved in a serious car v truck accident just over a year ago and was advised we were covered for the payout when my OH called. He then received a call from our insurer to say we were given the wrong information and we weren't covered. The insurance isn't worth the paper it is written on (personal opinion).Double check every detail and ask the question repeatedly to make sure you are getting what you want and are paying for.(just my opinion based on personal circumstances).