As parents, we all want to protect our children as best we can. While there are many families who take out private health insurance for their children, the majority don’t think beyond that when it comes to insurance.
We understand that no one likes the thought of insuring their children, however our little ones can be affected by a terminal illness or serious accident. Imagine the financial burden this could have on a family – expensive medical treatments, costly medical equipment and the possibility of unpaid leave from work to care for the child.
Parents (or Grandparents and caregivers) can choose to take out insurance to provide the financial support in the event something unforeseen happens.
With premiums from as little as $4.00 per month the question you need to ask yourself is can you afford not to protect your children?
Outlined below are examples of the type of trauma and terminal illness cover available for children.
Trauma Cover
Trauma cover pays a lump sum if your child is affected by a serious illness or injury that is listed.
Policy benefits:
- Cover amounts from $10,000
- Your child will have the benefit of a new policy option when they turn 21 – so they can transfer their cover to an adult policy without the need for health assessment.
Terminal Illness Cover
Terminal Illness Cover provides a lump sum upon diagnosis of a terminal illness or a non-survivable accident.
Policy Benefits:
- Protection up to a maximum of $500,000
- Conversion to Life Cover for children between the ages of 10 and 19 to convert some or all of their Terminal Illness Cover to Life Cover without any further health assessment (certain conditions apply)
- Automatic Funeral Support Benefit, which is payable in addition to the Terminal Illness Cover.
To get further information on insurance for children, please call us on 412 6363 or email info@rsl.net.nz
