Opinion: How much trauma cover is enough?

In a recent article and associated comments, several issues were raised regarding trauma cover, for which I’m grateful. I believe debate about product, advice and advice philosophies is to be encouraged, it’s critically important for improving knowledge and understanding, allowing us to improve our craft as advisers and better serve our clients. 

Incidentally, if you read the article and some comments, you would be forgiven for getting the impression that trauma cover ranks behind income protection and medical insurance in importance and value.

I don’t agree with any such sentiment. For clients who don’t work, or who work in uninsurable (for income protection) occupations, income protection is of very limited, if any, value: whereas trauma type covers, imperfect as they may be, are of immense value. 

The value of any insurance product depends entirely on the need for it by the client. Taking pre-determined judgemental positions about the value of products in isolation of client need is counter-productive to providing clients with the most suitable product recommendations.