One of the worst things a parent can experience is hearing the news your child has been diagnosed with a severe life threating illness. As parents, we would leverage everything we had to make sure our child was going to be ok. A children’s critical illness insurance policy is not costly and provides you a lump sum, tax-free payment upon the diagnosis of your child’s critical illness. This payout can be used in any way you want. Whether you use it to help compensate for lost income from a leave of absence from work to be at your child’s bedside, additional expenses such as treatments or prescription drugs not covered provincial or individual healthcare plans, travel and hotel costs or other bills such as your mortgage or the cost for alterations to your home in case of a disability. A children’s critical illness insurance benefit gives you peace of mind so your primary focus can be on the recovery of your child and not worrying about finances.
Children’s policies can cover up to 25 to 30 diseases and conditions, including cancer, type 1 diabetes, cystic fibrosis, muscular dystrophy and autism.
The cost of these critical illness insurance plans are minimal, less than a dollar a day, and offer protection and peace of mind. Speak to your life insurance advisor about critical illness insurance for your child.
Protect what matters…protect what you love.
Photo by Guillaume de Germain on Unsplash.