A severe accident or illness can leave you financially and personally devastated - and it happens far more often than you think. One third of us will become disabled for six months or more before the age of 65, and 2 in every 5 males aged over 30 will suffer a critical illness before they retire.
Trauma insurance will pay out a lump sum benefit if you suffer specific conditions such as a heart attack, stroke, cancer, diabetes, major head trauma, burns or loss of a limb. The insurance companies Ownit deals with cover more than 60 different conditions that could strike anyone at any age.
You can choose how to spend your lump sum payment. Replace lost income while undergoing treatment or recovery; pay off your mortgage or debt, buy specialist equipment; modify your home to provide disabled access, cover your childcare costs or tick off your bucket list.
Trauma policies do vary in terms of the conditions covered, the sum insured, and the payout options. Your Ownit adviser will help choose a policy that best meets your needs.