The birth of a son or daughter can be an ecstatic occasion for the whole family. Often one filled with joyous times for all those close to the family. It is also a time when planning of appropriate insurances should be discussed. Much like that of deciding whether to upgrade private health care plans, personal trauma insurances shouldn’t be forgotten. Many adults already have trauma insurance as part of their protection portfolio. However, many do not know that trauma insurance also exists to cover their children in the unfortunate event of illness or injury. Often this cover can be added to your existing insurance for minimal additional cost.
Many Australian children suffer from medical conditions and accidents that are serious in nature.
Experiencing serious illness or injury events with your child can leave you with both financial and emotional issues. There are insurance solutions available which can be tailored to ensure your whole family’s protected. This can cover some of the major concerns your children could face.
Children’s trauma insurance offers cover for a range of illnesses including meningitis, cancers, blood disorders, loss of sight, major organ and bone diseases, as well as covering some serious accidents and death.
Children’s trauma cover is usually offered as an optional extra to an adult’s life or trauma cover policy. Typically it covers children aged between ages 2 and 16; however this is dependent on the product provider. Often coverage is held for a lower balance then that of the adult’s trauma policy benefit. The premiums paid for this optional extra are much lower than those of the adult’s policy.
Why is Children’s trauma insurance important?
When a child becomes seriously ill or injured, parents no doubt take on the role of carer in this situation. As a result, there is generally a reduction to the family’s income. Often this comes at a time when family’s are already finding the difficulties with the ongoing costs of having a child and lifestyle expenses. When a child becomes seriously ill or injured, additional money is required for the medical care of the child. Talk to one of our financial advisers now regarding this insurance coverage type and how it can assist to build a safety net to make sure you have enough funds to take the time you need to spend with your family.
If you’d like to know more about how this cover can assist your family, please feel free to contact us at any time. We are happy to discuss with you your insurance portfolio and whether or not it continues to meet your ongoing risk protection needs and objectives.
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