Zurich trauma cover gets partial payments benefit

Zurich Financial Services has enhanced its extended trauma policies by adding partial payments to the benefits provided through the insurance cover for four commonly experienced health complaints.

The new facility will be part of all new and existing extended trauma policies held at November 1, 2006, that carry a coverage level of $100,000 or more.

The new benefit will pay 10 per cent of the trauma cover up to a maximum of $25,000 and no additional underwriting will be required to invoke the service.

“Many insurers include it in their policies at an additional cost, unlike Zurich where the partial payment benefit is an automatic inclusion in the upgraded policy,” Zurich Australia head of life risk Andrew McKee said.

The four health afflictions the partial payment benefit will cover are carcinoma in situ, early stage chronic lymphocytic leukaemia, early stage melanoma, and early stage prostate cancer.

“The purpose of a partial payment benefit is practical, to pay medical and living expenses and to continue regular financial commitments without adding to the stress of experiencing the traumatic event,” McKee explained.

“More importantly, it is an acknowledgement that the insured is undergoing a traumatic event,” he added.

McKee said Zurich acknowledged the initial stages of some of these conditions can be quite harrowing for the sufferer even if the affliction can be treated. However, regardless of the situation bills for items such as living expenses still need to be paid.

“That is when a partial payment can go a long way to alleviate financial anguish,” he said.