How HCF Life Insurance helps cover your recovery

Published September 2024 | 6 min read  
Expert contributor Dale Ingwersen, Senior Product Manager, Diversified Business at HCF   
Words by Jo Hartley 

Prepare for unexpected illness or injury with our Recover Cover insurance. Let us focus on providing financial security, while you focus on getting better. 

When Abby’s son, Archie, crushed his hand during a bike collision, she was shocked to learn he needed surgery. “We arrived at the emergency room, and I honestly thought they would just bandage up the wounds and send us home,” Abby says. But it turned out Archie's hands were badly damaged and he needed surgery.

The family used their private health cover for Archie’s surgery, but were concerned about the other costs associated with the accident, like parking and food at the hospital, pain medication and time off work to look after him.

Thanks to Kids’ Accident Cover from HCF’s Recover Cover range, Abby received a benefit which helped cover these, too.

What is Recover Cover?

HCF’s Recover Cover range is a unique offering that's part of our life insurance products. It recognises that recovery comes in many forms and is different for everyone. Unlike personal health insurance, Recover Cover gives you a cash payment to use however you like.

This might include the unexpected costs of recovery, like taxis, babysitters and even cleaners when you’re recovering from an illness or injury. Recover Cover can also help with the cost of living while you concentrate on recovering from a serious illness and can help to keep you afloat if you’re unable to work during your recovery.

“Recover Cover is a simple and unique range of flexible insurance products, from life and income protection to critical illness and accident cover. They have been created to protect what matters most to you, with cash payments designed to help you to recover at your own pace, working alongside your health coverage,” says Dale Ingwersen, Senior Product Manager, Diversified Business at HCF.

The type of benefit you can get depends on the cover you’ve chosen, but for most Recover Cover products, you'll be paid a lump sum.

5 ways to cover your recovery

Recover Cover can help you take care of the costs of recovery you weren’t expecting that can really impact your life.

“Everyone should identify how they’d cope financially if the worst was to happen and consider if insurance could help,” says Dale. “It’s also important to regularly review those plans as your lifestyle and commitments change.”

1. Cash Back Cover 

This cover provides cash in hand to help with any unexpected costs of recovery. These could include the cost of taxis to the doctor, extra rehab, hospital parking, babysitters or help if you need time off work.

• Eligibility: Permanent Australian residents aged 16 to 60 with the policy expiring at age 65.
• Example: An 18-year-old boy fell while skateboarding in the local park which resulted in an ankle injury. He had to undergo stabilisation surgery to treat the condition and received a Cash Back Cover payment to help with the costs of recovery and rehab after hospital.
• Cost: Starting from $3 a week for singles and $6 a week for families.

2. Personal Accident Insurance

Aimed at older Australians, this cover is designed to help with any extra costs related to personal accidents or falls.

• Eligibility: Permanent Australian residents aged 55 to 74 who are permanent residents of Australia, with cover expiring at age 85.
• Example: An elderly lady was walking along the footpath and tripped, landing on her left side, dislocating her knee and fracturing her left wrist. She received two Personal Accident Insurance payments, one for the wrist fracture and one because she underwent surgery at hospital to repair her dislocated knee.
• Cost: Starting from $3.20 per week for $25,000 cover, and $6.35 per week for $50,000 cover^*.

3. Kids’ Accident Cover

Any parent will know how accident-prone children are. This cover can help with accidents resulting in injuries like scrapes, breaks, stitches and burns.

• Eligibility: Australian permanent residents with a child aged under 17, with cover expiring when your child turns 22.
• Example: A young boy blocked a kick during kung fu training, which resulted in a dislocated and fractured shoulder. He received a Kids’ Accident Cover payment for an overnight stay in hospital and a further payment for the shoulder fracture.
• Cost: Starting from $1.25 per child per week (for children aged under 17).

4. Income Protect Insurance

HCF’s Income Protect Insurance offers different payment terms, with an ongoing monthly payment for up to 12 months if you're unable to work because of an illness or injury^{^}.

• Eligibility: Permanent Australian residents aged 18 to 60, earning at least $2,000 pre-tax per month, working at least 21 hours per week, employed by the same employer (or been in the same occupation) for at least 12 months, and working in an eligible occupation – view ineligible occupations.
• Example: A single mother, who is the primary wage earner, is unable to work due to a cancer diagnosis and treatment. She receives monthly payments (for up to 12 months) to help cover her family’s living costs while she undergoes chemotherapy.
• Cost: Starting from $2.65 per week.

5. Critical Illness Cover

Cover designed to pay a lump sum to help with the unexpected costs for serious illnesses like heart attack, cancer or stroke (excludes pre-existing conditions).

• Eligibility: Australian permanent residents aged 18 to 54, with cover expiring at age 65.
• Example: A middle-aged father suffers a cardiac arrest while competing in his first triathlon. He receives a lump sum payment which he uses to help cover his medical care and rehabilitation, and to supplement his family’s living costs while he recovers.
• Cost: Starting from $2.30 per week for singles⁺.

Recovery with cash in hand

With some policies starting from as little as $1.25 a week, Recover Cover products are affordable for most Australians. And unlike private health insurance where your bills are covered behind the scenes, Recover Cover offers a cash payment. “We don't define what you need to spend it on,” adds Dale.

To help our members, claims are settled quickly – in many cases, within five days. It’s something HCF life member Vivian discovered after she was diagnosed with breast cancer and needed to undergo chemotherapy.

“I was so happy HCF was able to pay me without delay only a few days after I sent in my claim,” she says. “When you’re sick, you really don’t have the time and energy to gather so much information. Recover Cover does make a difference.”

How HCF Life Protect Insurance and Recover Cover work together

Life is full of unexpected challenges, that’s why HCF Life Protect Insurance is designed to provide financial protection for your family if you pass away or are diagnosed with a terminal illness. It provides a lump sum payment to help ensure that your loved ones will be able to cover living expenses like mortgages, bills and children’s education.

“When considering life insurance, it’s crucial to understand how your family and loved ones would cope financially if something were to happen to the major breadwinner,” says Dale.

Together with HCF Recover Cover, HCF Life Protect Insurance can help cover accidents and recovery and make sure your family has cover throughout life’s twists and turns. Each of HCF’s insurance offerings has a specific purpose with a range of customisable options and benefits, so you can find the right cover to suit your lifestyle.

“As a private health insurer, it’s unique that we can offer life insurance options as well,” says Dale. “Offering the two means that we can tailor packages that work together. We’re focused on balancing affordability and giving people the type of cover they need.”

Keen to find out more about Recover Cover?

Contact us today for more information about our Recover Cover products and to find the right type of cover for you and your family. Peace of mind has never felt so good.

Call us on 1800 560 855 to get a Recover Cover quote or visit our website to find out more.