Why would you want to insure your child against a serious illness, injury or even death? Sounds morbid doesn’t it? Not really. Wouldn’t you want to ensure that you could take time off to care for your child and also have some extra funds to pay for any medical bills?

Many Life Insurers now offer an additional benefit called Child Trauma that covers your child against anyone of up to 16 different events including Cancer, Quadriplegia, severe burns and many others.

Under Child Trauma Cover you can cover you child for a small additional amount, approximately $1 per $10,000 covered, to ensure you have the financial security necessary.

Unlike most life insurance products this cover will not increase with the Consumer Price Index (CPI), however the premium you pay will also remain level and the child will have cover until 21 years of age. When the child reaches pre-defined ages (usually 6, 10, 14 and 18) the cover can be increased as your circumstances require.

An additional benefit offered is that at the age of 21 the policy will actually convert to an adult policy with few or no additional medical requirements, allowing the older child to maintain the trauma cover into their adult years.

To obtain Trauma cover for your child you do need to hold a current Trauma policy of your own and add the cover to your existing policy.

If you require further information or would like to speak to an advisor we would be happy to discuss this cover with you.