Children and Critical Illness Insurance

An increasing number of critical illness insurance companies now cover children from the age of three, as standard. However, Critical Illness Insurance companies generally do not cover any illness or disability that a child was born with or had at the time the policy was taken out. If you have children, then you may want to consider taking out a critical illness insurance plan with this benefit.

If you are interested in covering your children under your critical illness insurance, we suggest that you speak to the provider you are thinking of using about how much you can insure them for. This is because all critical illness insurance policy terms vary by provider.

Prior to taking out a critical illness insurance policy it is very important that you read the Key Features Leaflet. This is a document that you receive from critical illness insurance companies outlining the policy you are considering and exactly what it covers and excludes.

The information contained in the Key Features Leaflet will help you compare different critical illness insurance policies.

The Benefits of Including Your Children in Your Critical Illness Insurance Policy

If you include your child in your critical illness insurance policy and he or she develops an serious illness covered by the plan, then you will receive a tax free lump sum payment.

You are entitled to keep this payment from your critical illness insurance even if your child recovers.

The money you receive from your critical illness insurance can be spent however you choose. For example, you may wish to spend it on the provision of medical care and treatment for your child.

What to be Aware of When Including Children in Your Critical Illness Insurance

In most cases critical illness insurance does not automatically include Bacterial Meningitis.

Therefore if you want your child to be covered for Bacterial Meningitis you should extend your critical illness insurance to cover it.