Establish your Will/s................................................................................................................26

46. Apply for Trauma Insurance

We recommend that you apply for trauma insurance as follows:  $XXX Trauma insurance on a stepped / level premium payable monthly / annually  [Child Cover] Child cover of $XXX for your child/ren, for a total of $XXX. The premiums for this insurance will be sourced from cash flow / from your XXX cash account.

Benefits:

 You will have funds available in the event of a defined medical event, to pay down your debts of $XX / provide ongoing income of $YY / pay medical bills.  [Monthly] Paying premiums monthly will help you to smooth the impact on your cash flow.  Your family will have financial support in place should anything happen to you and your ability to earn income.

Points to Consider:

 We have recommended new insurance that will be underwritten by the insurer to assess your application. They may offer revised terms including higher premiums or health exclusions, depending on the outcome of their assessment.  Do not cancel any existing insurance cover prior to the recommended insurance being accepted and put into force.  [Specified levels of cover] You have specified the level of cover for your trauma insurance and as such, we cannot confirm if this level of cover is appropriate for your needs. You may be underinsured as a result and not have adequate cover in place to meet your financial commitments in the event of a claim.  [Limited Information] You have not disclosed your full financial position for us to determine an appropriate level of cover. We have made some assumptions on what you need which may result in you being underinsured.  You need to complete your application for insurance honestly and with full disclosure. Failure to do so may give the insurer cause to void your policy and not pay claims in the future.  We have estimated the impact of certain health events on your financial position. The actual impact may be more than we have calculated and therefore you may be underinsured. Significant changes to your circumstances may also impact the appropriateness of the level of cover recommended. Please contact our office to arrange a review in the event of any significant changes to your lifestyle and/or needs.  [Level] Level premiums may increase over time; they are not fixed rates.  [Stepped] Stepped premiums will increase each year in line with your age.  New trauma insurance policies generally have a 90-day waiting period on major medical events.  [Cash flow] The recommended insurance premiums will reduce your personal cash flow available for other expenditure.