Trauma Insurance: Peace of mind to focus on what matters most – recovery

MetLife Protect’s Trauma Cover allows your clients to claim up to six times¹ for major events like cancer conditions, heart conditions, neurological conditions, vital organ and digestive system disorders, disability conditions, and accidental incidents when the Trauma Cover Reinstatement Option with Individual Extras is selected.

As critical illnesses become more prevalent in Australia, the necessity for trauma insurance is on the rise with statistics revealing the impact of diseases such as cancer, cardiovascular disease and stroke on the health and finances of Australians.

Each year, over 150,000 Australians are diagnosed with cancer², more than 1.2 million Australians are diagnosed with cardiovascular disease that often leads to a heart attack³, and more than 350,000 Australians suffer a stroke, with more than one third having at least one impairment as a result of that stroke⁴.

The financial burden of these illnesses is substantial. Cancer patients may face out-of-pocket expenses exceeding $10,000⁵, while lifetime costs for a heart attack can surpass $68,000⁶ and $70,000 for a stroke⁷.

Considering that the average 30–49-year-old Australian holds around $25,000 in savings⁸, critical illnesses can have a detrimental impact on finances.

MetLife Protect’s Trauma Cover plays a crucial role in safeguarding your clients against the financial repercussions of critical illnesses – and together with our award-winning MetLife 360Health program – ensures peace of mind and comprehensive support throughout your clients’ health journey.

MetLife Protect Trauma Cover: The smart solution for your clients

At MetLife, we recognise that many of these health conditions (particularly cancer, cardiovascular disease and stroke) often coexist. To address this, we’ve designed our Trauma Cover to offer a Reinstatement Option to provide continued coverage even after 100% of the benefit amount has been received.

During the reinstatement period cover remains in place and continues to provide protection for trauma conditions that arise as a result of Accidental Injury, then 12 months following the full or partial benefit payment, the Trauma Cover Amount is automatically reinstated.

This allows your clients to claim up to six times for major events like cancer conditions, heart conditions, neurological conditions, vital organ and digestive system disorders, disability conditions and accidental incidents.

Furthermore, our Trauma Cover provides additional benefits when Individual Extras is purchased with the Trauma Cover Reinstatement Option:

• 100% of the Trauma Cover Amount is payable for a new primary Tier 1 or Tier 2 Cancer Condition provided it is not a Related or Progressive Trauma Condition.
• 10% of the Trauma Cover Amount to a maximum of $50,000 is payable for a Tier 1 or Tier 2 Cancer Condition if a previous benefit was paid for a Related or Progressive Trauma Condition.
• 10% of the Trauma Cover Amount to a maximum of $50,000 is payable for a Tier 1 or Tier 2 Heart Condition if a previous benefit was paid for a Related or Progressive Trauma Condition.

More than just financial support with MetLife 360Health

All MetLife Protect customers have access to MetLife 360Health at no extra cost.

Awarded Best Overall Health and Wellbeing Program 2023⁹, MetLife 360Health provides access to expert knowledge and medical support to help your clients live healthier for longer. This includes mental health support, expert medical opinion, nutrition support, fitness and mobility support, and online access to quick and easy support from mental health clinicians, general practitioners and paediatricians for general questions.

Best of all, there’s no limit to how many times your clients can access MetLife 360Health and these virtual services are also extended to their family¹⁰.

In addition, once we’ve been notified of a claim (or the intent to claim), we’ll discuss proactive health strategies and services with your clients to help them achieve the best possible health outcome, and our market leading recovery support services have been shown to be:

• Offered to more people: We have the highest proportion of rehabilitation referrals in the industry¹¹.
• Offered sooner: We take an average of 90 days to provide a recovery plan compared to other insurers which take an average of 197 days to offer an intervention¹¹.
• Effective in getting claimants back on their feet sooner: We have the highest return to work rate with 85% of claimants back at work during the waiting period¹¹.

For more information on MetLife Protect Trauma Cover, contact your local BDM. Not a partner yet?

Find out how you can partner with us to protect your clients with confidence.

References

1. Where the Trauma Cover Reinstatement Option is selected.
2. Australian Government –Cancer Australia
3. Australian Bureau of Statistics - Heart, Stroke and Cardiovascular disease 
4. Australian Bureau of Statistics - 4429.0 -Profiles of Disability, Australia, 2009 
5. Sydney Morning Herald - How much does it cost to have cancer?
6. The New Daily - Cost of Heart Attacks on Australians
7. Pubmed Lifetime cost of stroke subtypes in Australia 
8. Yahoo Finance - How much the average Australian has in savings
9. Plan For Life’s Excellence Award – Best Overall Health and Wellness Program 2023.
10. The term ‘family’ consists of your children, partner, parents and parents in-law.
11. Swiss Re Rehab Report (2022).

While care has been taken in preparing this content, MetLife Insurance Limited (ABN 75 004 274 882, AFSL 238096) (MetLife) does not warrant or represent that the information, opinions or conclusions contained in this information are accurate.  The information provided is general information only and is current as at the time of production. It has been prepared without taking into account your personal objectives, financial situation or needs and you should consider whether it is appropriate for you. It is not intended to be a substitute for professional advice and should not be relied upon as such. MetLife recommends that you obtain independent and specific advice from appropriate professionals before implementing a financial strategy, including reading any relevant product disclosure statements and/or terms and conditions. 

Before deciding whether to acquire, or continuing to hold, any of our products, please read the Product Disclosure Statement and Target Market Determination available at metlife.com.au. MetLife Protect is issued by MetLife and MetLife Protect Super is issued by Equity Trustees Superannuation Limited
(ABN 50 055 641 757, AFSL 229757) (ETSL).