What types of trauma insurance policies are available?

There are several types of trauma insurance policies available in Australia, each with different features and benefits structures. Standalone trauma insurance is a standalone policy covering only critical illness conditions, providing maximum flexibility and typically the most comprehensive condition coverage. Accelerated trauma insurance is attached to a life insurance policy where the trauma benefit is paid as an advancement of the death benefit - if you claim trauma insurance, your life insurance cover is reduced by the same amount, and if you die, only the remaining life insurance is paid. Bundled or linked policies combine trauma insurance with life insurance and/or TPD insurance in one package, often providing premium discounts compared to buying each separately. Some key policy features to compare include: number of conditions covered (typically 30-60), whether partial trauma benefits are included for less severe conditions, continuation or reinstatement options after claiming, special event increase options allowing you to increase cover without medical evidence, premium structure (stepped premiums that increase with age vs level premiums fixed for a period), waiting or exclusion periods, and specific definitions for major conditions. Additional policy types include Buy-back options that allow you to reinstate cover after a claim, Business expense trauma insurance designed to help business owners cover business costs if they suffer a critical illness, and Children's trauma insurance covering serious childhood illnesses. When selecting a policy type, consider your budget, family situation, whether you already have life or TPD insurance, and how comprehensive you want your coverage to be.