For parents, a child is a priceless gift. When the children get sick or are hurt, parent feel twice the agony and they do what they can to ease whatever their children feel. That is, if there is something they can do. What if it is a critical illness or a serious accident?
In cases when medical intervention is needed, especially a prolonged one, a parent may need to take some time off work. Annual leave whether sickness or personal is limited and at times when a child needs at least one parent, the husband or the wife may need reduce working hours if not stop work altogether.
A situation like this could mean financial difficulty, more so if the treatments are not covered by private health insurance and cash reserves assistance is badly needed. This is why it is important to protect the children through Children’s Critical Insurance, a coverage that parents may add onto an existing policy.
The Benefits
- A lump sum payment in case a child is diagnosed with a critical illness.
- The money can cover medical treatment expenses.
- The salary of the parent on an unpaid leave may be replaced.
- Household bills will be taken care of.
- Premiums for this cover type are not tax deductible with benefits paid absolutely tax-free.
- Get as much as $50,000 coverage for a 7-year old boy with a very low monthly premium of $6.75.
Generally, children need to be at least 2 years of age to be covered.
Get in touch with your financial adviser to find out how this can work for you in protecting your children.