Protect your family with children’s critical illness insurance
Children’s critical illness insurance can give you the financial freedom to give up work, and be at home to care for your child, in the unfortunate event of them contracting a serious illness.
What many of us do not realise is that childrens critical illness insurance is often free of charge, as many of the large insurers now include it as a ‘perk’ in a policy taken out by their parent.
Insurers such as Aviva, Friends Provident and Prudential now include free critical illness insurance for children in their adult policies. This applies to all your children, regardless of how large a family you have, and runs until their 18th birthday or the end of your policy, whichever is the sooner.
Free children’s critical illness cover is offered by most insurers, but the amount of cover varies. As an independent financial adviser, Principle First takes a whole of market approach, and can pinpoint those policies that contain the best childrens critical illness cover for you.
Do you need advice on children’s critical illness insurance? Make an insurance enquiry online, or ring our friendly advisers on 0800 678 5929 now.
What does critical illness insurance provide?
Critical illness insurance provides a lump sum payment when you or your children are diagnosed with cancer, stroke, heart attack, tumour, or multiple sclerosis, or must undergo certain severe medical procedures.
In the UK, 1 in 4 men and 1 in 5 women will lose their income due to critical illness, before they reach retirement age.
Critical illness is not limited to the elderly, however - Legal and General has revealed that the average age for a claim on its critical illness policies is 45, and that 70% of claimants are under 50. Aviva tells us that 2% of their claims relate to children.
With critical illness insurance, as with all insurances, the small print is important, and is best explained by the qualified financial advisers on the Principle First critical illness team. As independent advisers, Principle First can scrutinise the policies from each critical illness insurance company, to locate the best critical illness cover for you.
You can use the Principle First critical illness calculator to work out how much critical illness insurance is right for you. In order to cut the cost of your critical illness cover, our calculator is based on replacing your income for a convalescence of 2 years, after which you may return to work, rather than more expensive cover that would replace your income until retirement age. Obviously, both options are open to you and both can be included in our critical illness insurance quote.
As mentioned above, the childrens critical illness insurance in your policy can make a crucial difference, if your child becomes ill. It can give you the freedom to give up work for a time, to care for your child.
Critical illness insurance is available to couples as single or joint critical illness cover. However, paying a little extra for 2 single policies is often worth considering, so that your spouse is not left without cover, should you claim. Our Principle First critical illness team will advise on all these matters, and recommend the right critical illness insurance policy for you.
Sort your own and your children’s critical illness insurance cover today! Make an online insurance enquiry or ring 0800 678 5929 now.
