Life Insurance For Children

Having children is one of the greatest responsibilities one can have. It is a life event that often changes one’s purpose, putting someone else at the fore of everything you do and living in a way that allows you to provide for your children. Children’s insurance allows for you to protect yourself financially from the devastating impact of a child suffering a critical illness or passing away. The financial impact can be tremendous with considerable time out of work as well as other costs.

What is Children’s Life and Trauma Insurance?

You can cover your children under your own life insurance policy when they are aged between 2 and 18. This cover provides you with a lump sum of up to $200,000 should they pass away or be diagnosed with one of approximately 35 critical illnesses. The proceeds of this policy are paid to you, the policy owner. The purpose of this payout is to provide cash for unforeseen medical expenses and to allow you to take a substantial amount of time away from work. During what is an incredibly hard time, this payout provides you with the breathing space to focus on what matters most, your family. 

Child cover can typically also be converted in to comprehensive cover once your child turns 18. This means that your child will be able to access valuable cover when they are an adult, without undergoing any medical underwriting. If your child has health issues, they may be unable to obtain traditional cover as an adult which can make this invaluable. Find out more about trauma insurance here.

The child cover we deal with needs to be attached to an existing life insurance policy. If you would like to find out how you can protect the rest of your family, please fill out the form below. 

General Advice Disclaimer

General advice warning: The advice provided is general advice only and in preparing it we did not take into account your investment objectives, financial situation or particular needs. Before making an investment decision on the basis of this advice, you should consider how appropriate the advice is to your particular investment needs, and objectives. You should also consider the relevant Product Disclosure Statement before making any decision relating to a financial product.