In Australia, there are two main types of Trauma insurance policies:

1. Standalone Trauma insurance: This policy covers a specific set of medical conditions or events, such as cancer, heart attack, stroke, and major organ transplants. If the policyholder is diagnosed with one of the specified conditions, they will receive a lump-sum payment from the insurance company. Standalone Trauma insurance is designed to provide financial assistance to help cover the costs associated with the medical condition, such as medical bills, rehabilitation costs, and lost income.
2. Trauma insurance as a rider: This policy is often added as a rider to a life insurance policy or a Total and Permanent Disability (TPD) policy. A rider is an additional coverage that can be added to an existing policy for an extra premium. This type of Trauma insurance provides coverage for the same set of medical conditions as standalone Trauma insurance, but it is often less expensive since it is bundled with another policy.

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It's important to note that Trauma insurance policies can vary in their coverage and exclusions, so it's essential to carefully read and understand the policy terms and conditions before purchasing a policy.

An Account-Based Pension (ABP) is a type of retirement income stream that allows you to receive regular payments from your superannuation account. ABPs are designed to provide a regular income stream in retirement, and the payments are generally tax-free for people over the age of 60.
Here are some key features of an ABP:

1.    It is a retirement income stream that is paid out of your superannuation account.
2.    The payments are usually made at regular intervals, such as weekly, fortnightly, or monthly.
3.    The amount of the payment is based on the balance of your superannuation account and the investment returns it generates.
4.    You can choose how much you want to receive as regular payments, subject to certain minimum and maximum limits set by the government.
5.    You can generally choose from a range of investment options for your superannuation account, which can affect the amount of income you receive.
6.    You can also choose how often you receive the payments and how long the pension will last, subject to certain restrictions.
7.    If you pass away, any remaining balance in your superannuation account can be paid to your beneficiaries as a lump sum or used to fund a pension for your spouse or dependent children.

ABPs can be a useful way to generate income in retirement, but it's important to consider the potential risks and benefits and seek financial advice before making any decisions. A financial adviser can help you to determine if an ABP is suitable for your individual circumstances and assist you in developing a comprehensive retirement plan.