cancer cells

Importance of Trauma & Income Protection from a young age

Trauma and Income Protection insurance are normally taken out by clients once they go into debt or have a family. However, it is vitally important even at a young age to ensure costs can be covered for specialist medical treatment especially when it is not covered by the PBS (Pharmaceutical Benefits Scheme) system. This article is a stark reminder of the specialist costs associated with some cancers.

Jess is a 26 year old newly wed, with a rare blood cancer. Her treatment is not on the PBS and costs her $7,500 per month. The treatment would be on the PBS had she been diagnosed with Lung cancer. The angst and frustration that must be caused by not being diagnosed with the ‘right’ type of cancer must be traumatising in itself. She currently only has enough funds to pay for the treatment until Christmas.


There are 42,000 patients diagnosed with a rare cancer each year, of which the vast majority would not have their medications covered by PBS. Trauma cover can assist by providing financial relief in these circumstances.

This story reinforces the impact of seeing an adviser.

Hayden White

Hayden has worked in the financial services for last 15 years and provides specific direct equity investment advice both for clients that require portfolios inside and outside superannuation.