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| Some
Critical Illness Cover includes
Insurance Cover for Children |
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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.
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