Can I increase my trauma insurance coverage later?

Increasing your trauma insurance coverage after your policy has commenced is possible but comes with important considerations and limitations. Most insurers allow you to apply for increased coverage through a process called 'top-up' or 'increase in cover,' but this typically requires new medical underwriting, meaning you'll need to complete a new health questionnaire, may need medical examinations, and will be assessed based on your current age and health status. If your health has deteriorated since you first took out the policy, you might face higher premiums, exclusions for new conditions, or even be declined for the increase. Some policies include built-in increase options that allow you to increase your cover without medical evidence following certain life events such as marriage, birth of a child, taking out a mortgage, or income increases - these are called 'guaranteed future insurability' or 'special event' options and can be valuable. Any increase in cover amount will result in higher premiums based on your current age, as insurance costs increase as you get older. Additionally, if you've already made a claim on your trauma policy, increasing coverage may be very difficult or impossible. This is why financial planners often recommend taking out adequate coverage from the start, considering your likely future needs rather than just your current situation. Regular policy reviews every 3-5 years can help ensure your coverage remains appropriate as your circumstances change, though be aware that premiums for any increases will reflect your current age and health status.