Your children’s lives are full of great experiences and big adventures. And as a parent, you’re there to support them every step of the way. Most importantly, you’re there if your children ever get sick – regardless of the demands that may place on your time and your finances. No one likes to think about their children getting sick or injured but it is better to have a plan in place now to ensure you have options available to you should the unfortunate event occur.
Child Insurance can help you cover the extra financial burden of a serious illness, so you can do what ever it takes to get them healthy again.
What is Child Insurance? Child Insurance pays a lump sum if your child suffers from a serious medical condition. The point of Child Insurance is to provide funds to help you fund any out-of-pocket medical expenses, and allow you to take time off work to care for your child. It is designed to get you by while caring for you child. To apply for cover your child must be aged between 2 and 18 years of age.
Conditions: The types of conditions that Child insurance will provide funds for include cancer, blindness, brain damage, cardiomyopathy, chronic kidney failure, deafness, intensive care, loss of limbs / sight / speech, major organ transplant, meningitis, stroke, severe burns and a number of other conditions. Like all insurances, they vary between insurer and policy so you’ll need to refer to the Product Disclosure Statement of the product to know what your particular policy covers.
Cost: Premiums for Child Insurance are inexpensive and easy to apply for. There are no medicals or tests required and the cost can be as low as $10 per month for $50,000 of cover.
Continuation of Cover: When your child grows into a young adult, generally Child Insurance can be converted to Trauma cover without the need for any medical tests. This allows your child to continue being comprehensively covered in their adult years.
Sadly, many children suffer from medical conditions and accidents which are serious. Child Insurance provides financial support should the unforeseen happen to your children and most importantly reduces the financial stress to provide choices to aid in your child’s recovery. JBS can assist in this area if you wish to discuss in more detail.