Children Critical Illness Cover Compared

Posted on February 4th, 2011 in All Posts, Critical Illness Cover. If you do not have children then having this cover is neither here nor there for you. However in the future if you have kids then this cover will automatically be included. The amount of cover included for children varies from insurer to insurer however it is not usually the same as the main critical illness benefit. The list below shows whether or not major insurers include critical illness for children and if so how much.

Company	Covered	What amount of cover?
Friends Provident	Yes	Will pay a cash sum equal to 50% of the critical illness cover, up to a maximum of £20,000.
Aegon Scottish Equitable	Yes	Will pay a cash sum equal to 50% of the critical illness cover, up to a maximum of £20,000.
Bupa	Yes	Will pay a cash lump sum equal to 25% of the critical illness cover up to a maximum of £25,000.
AXA	Yes	Will pay a cash lump sum equal to 50% of the critical illness cover up to a maximum of £25,000.
Zurich	Yes	Will pay a cash lump sum equal to 50% of the critical illness cover up to a maximum of £25,000.
Aviva	Yes	Will pay a cash sum equal to 50% of the critical illness cover, up to a maximum of £20,000.
Fortis	Yes	Will pay a cash lump sum equal to 50% of the critical illness cover up to a maximum of £25,000.
Legal and General	Yes	Will pay a cash lump sum equal to 50% of the critical illness cover up to a maximum of £15,000.

Data in the table done February 2010 and may be subject to change.

The table above does not include details for all critical illness providers. However it give you an idea of what is about. Of course before recommending any particular insurer we will give full details of what companies include regarding children’s cover and critical illness. With children cover most providers will cover each child independently and thus if each child gets an illness the policy will pay out multiple times. The policy will normally cover legally adopted children also but this would need to be checked with the individual provider. If a family wants critical illness cover for children because they have kids, then sometime it is better to take 2 single policies covering each parent. This way should any of the children get a critical illness then the cover is doubled and the family could potentially have £50,000. This could be used to take time off work to care for a sick child or in some cases the £50,000 could be used to get expensive treatment that is not available on the NHS.

The best way to go about protecting your family against a critical illness is to get advice from a financial adviser. Fill in the form on the right to get advice.

Be Sociable, Share!