Trauma protection insurance plan is the critical illness plan that can offer financial support to the one, who falls critically ill. This financial support is not just meant for the one, who holds the policy, it is also meant for the dependents of the policyholder and his immediate family. That means even if you aren’t the one, who is critically sick, it is any of your loved ones, even then the insurance policy can rescue you. A lump sum payment is given to the policyholder and this amount is usually pre-determined.
The amount paid to the policyholder will depend on the type of illness and the cover amount. The compensated amount can be used to provide comfort to the sick person, who has limited time left. The policyholder has to provide medical records to file the claim. Once the claim is approved, then the agreed compensation amount is given to the policyholder.
Trauma insurance vs. Health insurance
Even if the policy holder dies due to his chronic illness, his family will get the compensation amount. He will be entitled to certain death compensation as per the insurance policy. If you think that this insurance policy is similar to health insurance then you are wrong. It can offer a much bigger and better compensation than health insurance. The health insurance policy does not provide full coverage. If you think that you can use your health insurance for covering the expenses of your chronic illness, forget that you will get any benefit. Trauma insurance has its own value and the compensation it can offer you can take away much of your worries. If you have a family to run, and you don’t have much money to get treated, how are you going to cope up? In such situation of despair, if you get a lump sum amount just to get treated, then it can be relief right? This is what the trauma insurance policy is meant to offer. The policyholder gets the compensation as soon as the claim is approved. Delays and rejections are very rare.
Facts about compensation payment
The survivor of the illness can use the compensation payment for getting back on his feet too. Even if some money is needed to make the home comfortable, this amount can be used there too.
The compensation amount can be used for starting a small business, paying for the rehabilitation expenses and more. It can be used on anything that can help the survivor in rebuilding his life.
That means the trauma insurance can help the sick ones, the survivors and the families of the ones, who have lost their loved one due to the critical illness. If you wish to get this insurance policy, then get some Lifedeal’s trauma insurance quotes now.