Trauma Insurance
Also known as Crisis, Living or Recovery Insurance, Trauma insurance provides a tax-free lump sum payment in the event that you suffer a specified, life threatening condition.
Benefits are usually paid for a trauma within a set list of defined medical conditions, as listed in the policy terms and conditions. Typical of a trauma policy would be a lump sum payment if you were to suffer a heart attack, stroke or life threatening cancer as per the policy definitions. The payment is made to the owner of the policy.