INSURANCE GLOSSARY
Insurance, in
plain English.
Insurance can come with a lot of unfamiliar words and phrases.
We've created this glossary to help explain common insurance terms in simple, easy-to-understand language.
Looking for something specific? Search the glossary below.
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Trauma Cover
Trauma Cover pays a lump sum if you're diagnosed with a covered serious illness or suffer a specified medical event, helping you focus on your recovery without the added financial pressure.
Standalone vs Accelerated
Standalone and Accelerated describe how Trauma or TPD Cover is structured alongside your Life Cover.
Trauma Cover vs TPD Cover
Trauma Cover and TPD Cover may both provide a lump-sum payment, but they protect against two very different risks.
Cancer Cover
Cancer Cover is a simplified type of trauma insurance that pays a lump sum if you're diagnosed with a covered cancer.
Health Cover vs Trauma Cover
Health Cover and Trauma Cover are designed to provide different types of financial protection. Here we break down the differences between the two covers.
Accelerated
Accelerated means that your Trauma Cover or Total and Permanent Disability (TPD) benefit is linked to your Life Cover. If a claim is paid, the amount paid reduces the remaining Life Cover.
Standalone
Standalone where Trauma Cover or Total and Permanent Disability (TPD) Cover operates independently from your Life Cover. This means making a claim doesn't reduce your Life Cover benefit.
Sum Insured
The sum insured is the maximum amount your insurer will pay under your policy if a valid claim is approved.