Trauma Insurance by Sovereign: Cover for serious illness or injury

Trauma insurance

If you or your child suffered a serious illness or injury, would you be able to take time off to attend treatment or support your child, pay your mortgage, or simply maintain your household needs and expenses? How hard would it be on your entire family?

That’s where trauma insurance can help.

It can provide you with a lump sum to pay for whatever you and your family need to get you through a difficult time. This could be covering medical costs, get extra help at home while you support your child through treatment, or allow you to take time out with your family to recover without worrying how you’ll pay household bills.

How trauma insurance works

Sovereign offers two types of trauma insurance – Living Assurance, which generally pays a one-off lump sum; and Progressive Care, which can pay out multiple times, based on the severity of your illness or injury, or for unrelated illnesses or injuries. You can take this insurance out for you, or your child. Both options are designed to provide lump-sum payment, giving your family financial support to survive when you need it.

See the panel below for the types of trauma insurance available.

Progressive Care Living Assurance
Progressive Care can pay out more than once, for a wider range of illnesses. Lump sum benefit payments are linked to the severity of your medical condition - the more serious it is, the larger the payout*.

*Subject to any previous claims under the policy

Living Assurance can pay a one-off lump sum, when there is a diagnosis of one of over 40 medical conditions. There is also an essential (more basic) cover option.
Download guide
Download policy wordings
Download guide
Download policy wordings (Comprehensive Living Assurance)
Download policy wordings (Essential Living Assurance)

Both Progressive Care and Living Assurance have personal and business options. You can also choose to extend your cover with a range of optional add-ons.

Optional benefits

Accidental Injury Cover
Short-term financial support, helping you continue daily life while recovering from an accidental injury. Read more

Specialist and diagnostic testing
This benefit can help you access the best specialist care available, and get the diagnostic tests or essential treatment you need. Read more

Covering childhood

While most of us can comprehend the implications were we to suffer a trauma (become seriously ill or injured), it’s easy to underestimate the impact on your family and finances, should this happen to your child.

In times like these your children need more than money, they need you. The last thing you want to be worrying about when your child is seriously ill or injured is how you’ll afford time off work to be by their side while they receive treatment, and cover the unexpected costs while continuing to look after the rest of your family.

To give you better financial flexibility, you can get Sovereign’s trauma insurance (personal Progressive Care and Comprehensive Living Assurance) for children from the age of two years old. It can provide a lump sum of up to $250,000 and can be taken on its own or as part of your family insurance.

So, if you’re a parent or legal guardian, trauma insurance for your children can provide even greater protection and peace of mind – giving you the financial flexibility to be with your child in a difficult time.

For further information about Progressive Care or Living Assurance, please contact your adviser or refer to the customer guide or policy document.

Click here to see updates and enhancements we’ve made to our trauma insurance.

What next

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Disclaimer: The availability of any insurance cover is subject to your application being approved. For full details, refer to the policy document which is available on request from Sovereign. Applications are subject to individual consideration. Special conditions, premiums, maximums and exclusions may apply. The information contained on this website is general in nature and is not intended as advice. Before making any investment, insurance or financial planning decision you should consult a professional adviser. Copies of our disclosure statements are available on request, free of charge.​​

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    The information contained on this website is general in nature and is not intended as advice. It may not be relevant to individual circumstances and before making any investment, insurance or financial planning decision; you should consult a professional adviser. Copies of our disclosure statements are available on request, free of charge.​