There are different ways for families to get insurance coverage for their children.
Here are a couple of insurance solutions that you may not be aware of...
Children’s medical cover
It is common for parents to add their children to their health insurance policies. If you already have health insurance, your children are most likely eligible to be covered under your plan until they reach age 21 depending on the insurer.
Children are mostly covered for the big things such as specialist, hospital and surgical cover.
Normally to add a child aged 3 months or more to your medical cover, you’ll need to complete a short supplementary application form. Most health insurers allow babies to be added to policies without any medical questions asked, with only congenital conditions excluded.
Children’s Trauma cover
Also known as Critical Illness
Most parents know that falling down and getting bruises are just all part of being a kid. However, many New Zealand children suffer from medical conditions & accidents that can be a lot more serious.
What most don’t know is that there is an insurance solution that can be tailored into the family’s protection package that can cover some of the major concerns your children could face.
Children’s trauma insurance offers cover for a range of illnesses including meningitis, cancers, blood disorders, loss of sight, major organ and bone diseases, and could cover some serious accidents and death.
Children’s trauma is usually an optional extra to an adult’s life or trauma cover and typically covers children aged between ages 4 months and 19. Coverage is typically for a lower premium in comparison to a comprehensive trauma product.
If your child becomes seriously ill or injured this could reduce the family’s income at the worst time, as additional funds are most likely required for medical treatment. Think of this as a safety net to make sure you have enough funds and the time you need to look after your family.
For more information please feel free to get in touch
The information is of a general nature and does not constitute financial advice or other professional advice. Before taking any action, you should always seek financial advice or other professional advice relevant to your personal circumstances.