Most parents will agree, the thing that terrifies us the most is losing a child or our child becoming seriously ill. I have personally felt helplessness and fear when my children have had surgery, or been ill, and cannot think about how I would cope should they suffer a serious illness. One thing is for sure, I would want to be there by their side and be the one that takes care of them, if they were to ever be seriously ill.
While this seems a given, a mother wanting to take care of her children, the fact is that our family relies heavily on my income and having to take care of a child for a lengthy period of time, would financially drain our family. That’s why I have Child Critical Illness cover in place for Tilly and Lucinda. Should either of them suffer a serious illness, I have cover in place to help replace my income while I take care of them, The cover also provides additional funds to cover medical expenses and buy the best care possible for them.
Most people haven’t heard of Child Critical Illness cover and few Financial Planners discuss it with their clients. Child Critical Illness or Trauma cover, insures your child against a list of serious illnesses including Cancer, Heart Disease, Diabetes, Major Organ Failure, Benign Brain Tumours and more. Cover is affordable with $200,000 of cover, costing around $25 per month.
Child Critical Illness is different to Private Health Insurance, as Private Health Insurance will help with medical costs but not assist in providing a lump sum to replace lost income and out of pocket medical expenses.
Sadly, it is predicted that the children of today will die before their parents. Why? We are in the midst of a major epidemic of chronic disease that is plaguing our children, and threatening the health of our species. How many of you know someone, (including children), who has been affected by Cancer? Heart disease? Diabetes? The list goes on.
In 2013, one of our own client’s children suffered an illness and claimed on their child’s cover. In the words of our client “every parent should have this cover, it will make a big difference to our family”. It’s great when our advice makes such a difference to our clients lives.
To find out more about Child Critical Illness cover please contact us on 02 6033 2077.