The Filipino "bahala na" (come what may) attitude can take the stress out of the most difficult situations, but not all things should be left up to fate. Lifestyle and finance coach SARAH RIEGELHUTH talks insurance.

There's a big chain supermarket just opposite my office in Melbourne. Next to that supermarket is a little shop where you can buy lottery tickets. 

If the 'big draw' is over $10 million you can guarantee there will be a long line of people eagerly awaiting their turn to become free from their job and financial stresses.  

They see it as their only way out. 

The funny thing is that to win Division 1 -- your odds are 1 in approximately 45 million. 

So if we double Australia's population and pick one person out of the entire country, there's a slim chance it'll be you (sorry!). 

While all of this is happening, it's estimated that 1 in 2 men and 1 in 3 women in Australia will have some type of cancer by the time they're 85 (according to the Cancer Council of Australia). 

Yet the (not so) funny thing this is that the majority of Australians aren't financially covered if they're diagnosed with cancer or with a wide variety of other diseases and illnesses. 

That's where Trauma Cover comes in.

When you’re at the age where you have several financial commitments (think mortgage, rent, kids, bills, money remittances to relatives back home), this type of insurance can save you a lot of stress.

In finance speak, trauma cover is a lump sum insurance, that pays you out in the event of you being diagnosed with one of about 40 or 50 horrible medical conditions.

The most commonly claimed events are cancer, heart attack or stroke, however think things like multiple sclerosis, third degree burns – all sorts of other yucky things are covered.

You select the amount of cover you would like when you apply and if you ever get sick, and your condition is covered in the policy, you’ll be paid the money.

You get sick, you get paid

The reason I love this insurance so much is because, statistically, there is a very high possibility for many that they will suffer a serious illness in their lifetime, but with medical advances these days, survival rates are increasing. What that means is, you get sick, you get paid and you have the means to cover costs even if you take time off work.

Trauma Cover gives you the chance to rest and focus on your treatment and recovery, without having to worry about your mortgage or other living expenses that will still be there.

Sarah Riegelhuth is one of Australia's leading financial experts, and the Author of Get Rich Slow. She was named in The Age Top 100 most influential and inspiring citizens. Find out more on

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