Childrens Trauma Insurance
2011 December 6
Child trauma insurance has been around for a good few years now, and many Australian families are starting to see the benefits.
None of us like to think of any harm coming to our children, but the unfortunate fact is that there are thousands of children around Australia stuck in hospitals with life threatening disease. Many children also die each year thanks to accidents and illnesses.
We would all do whatever it took to help our children in this situation, and holding child trauma insurance could be one of the best things you can do.
How does child trauma insurance work?
Child trauma insurance is very similar to any normal trauma insurance policy, but unlike adult policies which only cover critical illnesses and conditions, child trauma also covers death.
If your child was to suffer a trauma condition specified on your policy, the insurance policy would pay out the full amount of child trauma insurance.
A child trauma insurance policy must be held via one of the parent's policies. At least one parent must hold trauma insurance.
What does child trauma insurance cover?
The conditions covered by child trauma insurance differ between insurers, but most of them cover many of the major illnesses suffered by children in Australia.
Some of the conditions commonly covered include brain damage, cancer, meningococcal, severe burns, meningitis, major head trauma, loss of a limb or loss of sight, hearing or speech.
How can trauma insurance help?
Trauma insurance for children is not about cashing in on your child's misfortune. The proceeds can not only improve your child's quality of life after suffering a serious condition, but it can even help to save their life.
If your child was to suffer a life threatening illness covered by your trauma insurance policy, those funds can be used to access the best medical care available anywhere in the world.
If the leading expert happens to be in Switzerland, your trauma insurance payout should be sufficient to take you and your ill child to Switzerland for as long as takes for them to make a full recovery.
Childs trauma insurance can also improve your child's quality of life in the event of severe burns, loss of a limb or loss of a sense. The funds from your policy will enable you to access the best rehabilitation services that money can buy.
The funds from a trauma insurance policy, which in some cases can be up to $250,000, will give you and your child access to medical services usually only available to the rich and famous.
Types of child trauma insurance
When choosing a trauma insurance provider for you and your children, you need to keep in mind that different insurers have different structures for child trauma insurance.
Some insurers simply provide a standard amount of cover in your policy at no extra cost. This amount is commonly around $50,000, and it a great bonus considering that it is often a no-cost optional extra.
But if you want to obtain the maximum amount of insurance for your child, or just an amount higher than the standard included in some policies, you will need to find an insurer that allows for additional child trauma insurance to be purchased.
What ages are covered with child trauma insurance?
This is another factor that can vary between the different insurance companies.
The earliest age for cover in some cases is from birth, and the maximum age can be up to 16 or even 18 with some insurers. Commonly however, the ages covered tend to be from around 2 to 14 years of age.
It is worth shopping around and checking with different insurers to find the cover that is going to provide the best protection for you and your family.
Is child trauma insurance worth it?
Any good parent would do everything in their power to save their child's life or to improve their child's quality of life. For a small monthly premium you can ensure that in your child's hour of need, you will have all of the financial firepower necessary to fight off anything that comes their way.
For more information on child trauma insurance please give us a call or complete our online quote or contact form.