Trauma Insurance Advantages:
Premiums Can Be Tax-Effective In Super:
By making more non-concessional contributions, there may be no personal income tax payable on investment earnings. Speak with your financial adviser about how you can make more tax-effective investments through your super fund. For some people, adding new money into their super account is an effective way to add capital for property development or buy property assets with rental returns that exceed debt-servicing costs.
No Medical Underwriting:
This means that regardless of your physical condition, any preexisting conditions you may have, or how healthy or unhealthy you are now if you sign up for trauma insurance, it will take effect immediately. Your coverage begins as soon as your application has been accepted and paid for by your insurer.
This all translates into cheaper insurance for group members, but it does not necessarily mean they will get a cheap trauma insurance quote. Those with poor health or who smoke may charge more than others who do not have any preexisting conditions or engage in risky behaviors. However, most health plans will cover these conditions after certain waiting periods if patients pay more each month for coverage.