Cover That’s Designed for Little & Big Kids
For parents, there’s no greater pleasure than watching your kids grow into healthy happy adults.
Childhood is all about great experiences and big adventures. However, it’s not possible to prevent every childhood accident or serious disease. If, sadly, something were to happen to your children, how financially prepared would you be? It’s a conversation worth having.
BE READY TO LEND A HELPING HAND
A family with a seriously ill or injured child can face financial stress. Mounting medical bills and time off work to care for the child take their toll. That’s why understanding the benefits of child cover can help you get the right cover if something unforseen were to happen to your child.
WHAT TO LOOK FOR
Child cover offers can vary quite a bit between providers. It’s helpful to understand some of the key areas to look at when determining which cover best suits you.
Lump sum benefits can be as high as $200,000. Some providers include $10,000 in child cover premium-free for each eligible child as part of a lump sum or income protection policy, so this is worth investigating.
In addition, it’s important to look at the cut-off age for child cover, which isn’t necessarily just for little kids. Some providers make it available up to age 21 at which stage a lot of big kids have started driving and are going out without their parents. At this stage in life, children can be exposed to greater risks, increasing the possibility of injury through accidents.
If you move to another policy, including a spouse’s policy, consider if you can take your child cover with them. There are providers that allow fully-transferable child cover without the need for a re-assessment so kids can easily remain covered.
When a child grows out of child cover, you may want to continue covering your young adult children. To make it easier, often child cover can be converted to life cover, with linked or stand-alone trauma cover, without the need for any medical underwriting.
To find out more about child cover, talk to us today and see how we can help you further.
Source I Asteron
