Trauma Multi-Cover Flashcards
What is the primary purpose of Trauma Multi Cover?
To provide financial support in the event of a serious illness or injury.
True or False: Trauma Multi Cover is designed to cover multiple trauma events.
True
What types of events are covered under Trauma Multi Cover?
Serious illnesses such as cancer, heart attack, and stroke.
Fill in the blank: Trauma Multi Cover can provide a lump sum payment upon diagnosis of a covered condition, which can help cover _____ costs.
medical
What is the maximum number of claims allowed under the Trauma Multi Cover?
Multiple claims can be made for different conditions.
Which of the following is NOT a covered condition under Trauma Multi Cover? A) Stroke B) Diabetes C) Heart Attack
B) Diabetes
True or False: The coverage amount for Trauma Multi Cover is fixed and cannot be adjusted.
False
What is a key feature of the Trauma Multi Cover policy?
It allows for multiple claims for different trauma conditions.
How does Trauma Multi Cover differ from traditional life insurance?
It specifically covers serious health conditions rather than just death.
What is the benefit of having Trauma Multi Cover?
It provides financial security and peace of mind in case of serious health issues.
True or False: Trauma Multi Cover can only be purchased by individuals over the age of 50.
False
What is typically required to make a claim under Trauma Multi Cover?
A diagnosis from a qualified medical professional.
Fill in the blank: Trauma Multi Cover is designed to provide financial assistance when faced with _____ health challenges.
serious
What happens to the coverage if a claim is made?
The coverage amount may be reduced depending on the claim.
Who can benefit from Trauma Multi Cover?
Individuals seeking financial protection against serious illnesses.
What is a common misconception about Trauma Multi Cover?
That it only pays out upon death.
True or False: Trauma Multi Cover premiums are fixed for the life of the policy.
False
What is the role of medical underwriting in Trauma Multi Cover?
To assess the health risks and determine eligibility and premiums.
Fill in the blank: The coverage under Trauma Multi Cover can help to cover _____ expenses during recovery.
living
What is a common term used to describe the payout from Trauma Multi Cover?
Lump sum
True or False: Trauma Multi Cover policies are the same across all insurance providers.
False
What factors can influence the cost of Trauma Multi Cover premiums?
Age, health status, and coverage amount.
What is one benefit of having multiple trauma coverage?
Increased financial protection against various health conditions.
True or False: Trauma Multi Cover can only be used for medical expenses.
False
What is the significance of being diagnosed with a covered condition under Trauma Multi Cover?
It triggers the payout from the policy.
Fill in the blank: Trauma Multi Cover is often considered a form of _____ protection.
income
What is a key consideration when choosing a Trauma Multi Cover policy?
Understanding the conditions that are covered and the exclusions.
True or False: Individuals with pre-existing conditions are automatically disqualified from Trauma Multi Cover.
False
What is the typical waiting period before benefits can be claimed under Trauma Multi Cover?
It varies by policy, often there is no waiting period.
What is the purpose of a ‘cooling-off’ period in Trauma Multi Cover?
To allow the policyholder to cancel the policy for a refund within a certain timeframe.
How does Trauma Multi Cover support mental health?
By providing financial resources to access necessary care and treatment.
True or False: Trauma Multi Cover can only be claimed once in a lifetime.
False
What impact can Trauma Multi Cover have on a family’s financial stability?
It can help maintain financial stability during times of health crises.
Fill in the blank: Trauma Multi Cover policies often include _____ to help manage premiums.
discounts
What should individuals do before purchasing Trauma Multi Cover?
Review policy details and understand the coverage terms.
What is a common reason for individuals to consider Trauma Multi Cover?
To ensure they have financial support in case of a serious diagnosis.
True or False: All Trauma Multi Cover policies provide the same level of coverage.
False
What is the importance of reading the fine print in a Trauma Multi Cover policy?
To understand exclusions and limitations of the coverage.
