Childrens Insurance
If you are a parent, children are often the center of your world. It's normal as a parent to worry about your children, about their physical and emotional wellbeing. Though no matter how much we worry, we can't always protect our children from what life may throw their way.
This is why select insurers in Australia created Childrens Insurance Cover, to financially help parents and their children should a traumatic event occur.
Child cover
Childrens insurance can be 'premium free' as offered by select insurers. These insurers offer this unique benefit when attached to an adult's stand-alone life insurance or trauma insurance policy.
Child cover generally pays a tax-free lump sum of up to $200,000 to spend as you see fit, if your child:
- Suffers a traumatic event as outlined in your PDS;
- Is diagnosed with a terminal illness; or
- Passes away.
Depending on the insurer, most Childrens Insurance policies allow you to:
- Apply for a minimum of $10,000 or maximum of $200,000 sum insured.
- Cover children from ages 2 to 16 years of age (inclusive).
- Add more children - most policies do not limit the number of children you can add to your policy, however each child must have the same sum insured.
- Continue cover as an adult - Once your child turns 18 or 21 they have the option to continue their cover; usually without medical evidence.
Benefits of Childrens Insurance
A benefit payment from a Childrens insurance policy can:
- Allow you to take time off from work to care for your child;
- Pay for costly specialist medical treatment;
- Pay for other bills such as your mortgage, school fees, or child care if you have any other children;
- Fund home or car modifications;
- Help ensure your child is as comfortable as can be.
Free Childrens Insurance compared by xLife
You work to protect and care for your children, so why not further protect them with childrens insurance. Our advisers can discuss your needs and compare Australia's top child cover policies to ensure your child receives the best care available should the worst happen.
Exclusive Offer! Call xLife on 1300 135 205 today and
save up to 20% on your first year's life insurance premium.
March 2009
