Conventional wisdom holds that only adults need life insurance – a cushion to protect their families in the event of unexpected death, illness or injury.
More and more, however, we are seeing families consider the benefits of child life insurance and trauma insurance; commonly known as Children’s Trauma Insurance.
Most Australian life insurance companies offer Children’s Trauma Insurance as an option to the parent’s life insurance policy. As well as the life insurance component, these policies pay a lump sum benefit if your child is diagnosed with one of 40 or so trauma condition; including cancer, multiple sclerosis, blindness, loss of hearing, spinal injury and severe burns.
Protect your child today
A recent report from the Australian Institute of Health and Welfare found that in 2009, about 7 percent of Australian children had a disability, more than half with profound or severe core-activity limitations.
The lump sum benefit paid by a Children’s Trauma Insurance policy can be used for things such as:
Replace income lost by the parent taking time off work
Medical treatments not covered by health insurance
Medical treatment not available in Australia
Invest in your child’s future
The other, often overlooked, advantage of taking out a Children’s Life Insurance policy is that it automatically transfers to the child when they reach adulthood without any underwriting. This means that, regardless of any health issues they may have suffered during their childhood, they are automatically provided a valuable foundation on which to build their own financial future.
For about $1 per day
The best life insurance companies offer up to $250,000 of Children’s Trauma Insurance at a cost of around $1 per day and the application process is quick and easy.
While no one can ease the emotional heartache and pain of a child suffering a trauma event, by protecting your child with life and trauma insurance, you have the peace of mind of knowing you’ll always be able to give them the best possible care as well as ensuring they’ll be financially protected when they reach adulthood.
We can help
Whether it’s life and trauma insurance for your child, or life insurance for you, our life insurance experts can provide comparison quotes from all of Australia’s leading life insurance companies.
We manage the entire application process and, in the event of a claim, will act as your representative to ensure you receive the best possible outcome from the life insurance company.