Living Assurance

Living Assurance is all about survival.  Are you prepared for serious illness?  It’s a fact of life that we all get sick - and sometimes seriously.  The cost of recovery from an illness like cancer or a heart attack can have a huge impact on your ability to meet your living expenses.

Living Assurance is designed to pay a lump sum in the event of you suffering one of a number of specified critical conditions.

There are a number of good reasons to have Living Assurance:

  • Financial Survival – many patients survive an illness only to be crippled financially
  • reatment Expenses
  • Loss of Earnings
  • Protection for children
  • Medical advancements

Q

How does Trauma Insurance work?

A

With trauma insurance you choose the lump sum which will be paid out should you suffer one of the list of conditions that the policy offer covers for.  You can use the lump sum for whatever you want.


Q

What kind of conditions are we talking about?

A

These are some of the most serious illnesses and events you can face ie invasive cancer, heart attacks, strokes, paraplegia, MS or Parkinsons to name a few.


The Startling Facts:

  • Sovereign Assurance paid out $66,255,183 in Living Assurance and Total Permanent Disablement claims in 2016
  • Cancer claims payment made up 88.3% of total Living Assurance claims in 2016
  • Cancer was the leading cause of claims across all age groups with the highest claims associated to the 40-49 and 50-59 age groups

Source:  Sovereign claims statistics as at 30 June 2016 reported to FSC



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