How insurance helped Liz through a tough time

If you’re anything like me, insurance is usually the last thing on your mind. That changed when my friend Liz was diagnosed with breast cancer. The protection and peace of mind that came with being appropriately insured made a huge difference to her financial and physical wellbeing.

Having the right cover in place can make a huge difference if you or your family are hit by illness or injury. Trust me, the last thing you want to worry about at a time like that is money – whether it’s paying medical bills or just making sure there is food on the table.

Fortunately, Zurich has put out a great report called The Cost of Care that lays out how prevalent injuries and illness is in Australia – and how much it can cost you and your family.

The true cost of illness and injury

In a typical year, Australians suffer a staggering 538,000 injuries, averaging 1,473 per day (2021-22).¹ Those injuries resulted in 13,900 deaths, 44% of which impacted people under 65.² Falls, burns and vehicle accidents led to the longest hospital stays, often resulting in significant medical bills and long-term recovery costs.³

Chronic conditions like kidney disease and diabetes affect millions of Australians, with significant annual costs. Rare conditions, such as cancer in children, can lead to substantial financial strain due to the high cost of treatment and care.

How insurance helped Liz

What really brought it home to me was Liz, a 45-year-old mother of three, who was recently diagnosed with breast cancer. Her insurance policy covered her medical expenses, provided income replacement for 2 years to assist her recovery, and even helped with physio and other specialist appointments required due to the impact of her treatment.

She was even able to pay for an early access drug that cost over $100,000 which gave her a much better chance of fighting the cancer- something that she simply couldn’t have afforded without the insurance payment.

Without insurance, Liz would have faced high medical costs, a lesser standard of care, loss of income, and an ongoing medical debt that she could having been paying off into her retirement. Most importantly, insurance provided her with peace of mind. For Liz, it reduced emotional and mental stress during one of the most challenging times of her life.

Guarding against the unexpected

Insuring against the financial impacts of illness and injury can provide peace of mind about tomorrow. It’s not just about covering medical costs or replacing lost income, it’s about ensuring that you and your family are financially secure – no matter what life throws your way. And for Liz, it was a massive relief in a difficult time, setting her up so she could focus on getting better.

Zurich can help give you that peace of mind, too. Our extensive range of insurance options includes income protection, total & permanent disability and more.

How to buy insurance from Zurich

There are two ways to buy insurance from Zurich.

If you’re unsure about the type and level of insurance coverage you need, a financial adviser can help you evaluate your needs and structure your insurance appropriately.

If you know exactly what you need, you can apply for simple life and income protection products directly with Zurich Ezicover. It’s easy to apply online. Get an online quote.

 

¹ Zurich, The Cost of Care Volume 2, p. 82
² ibid
³ Zurich, The Cost of Care Volume 2, p. 84