Finding out that your child has cancer is every parent’s worst nightmare, yet it’s something thousands of families go through every year.
Around five children are diagnosed with cancer every week in the UK and Ireland, equivalent to about 1820 children a year. Sadly, cancer remains the number one cause of death by disease for children, with around 230 children dying from cancer each year.
This September marks Childhood Cancer Awareness Month, an annual campaign that takes place around the world to raise awareness, support and funding for childhood cancers.
Easing the financial burdenThe emotional impact of a cancer diagnosis is huge and can be almost impossible for a child and their family and friends to take in. Although many of us protect ourselves financially against serious illness, often we don’t want to think about the fact that children can be affected by these cruel diseases too.
No amount of money can ever compensate for seeing a child unwell, but having critical illness cover for your children as well as yourself can provide valuable peace of mind that should the worst happen, you could stop work and be there for your child when you need to be, without having to worry about money.
The largest percentage of claims on children’s critical illness policies are for cancer, with insurer Legal & General reporting that more than half (54%) of children’s critical illness claims last year were cancer claims, and Aviva’s claims report showing a third of all children’s critical illness claims were for cancer.
About children’s critical illness coverIf you already have critical illness cover for yourself, it’s worth checking your policy small print, as some providers include children’s critical illness cover as standard on their adult critical illness policies for no additional cost.
Other insurers might offer it as an optional extra alongside your cover. In either case, children’s cover is usually arranged so that it runs for the term of the adult’s policy, typically covering children from birth up to the age of 18, or even 23 if they are in full time education. Cover for children generally will be limited to the amount of cover on the parental policy with a typical maximum of £25,000.
Children’s critical illness cover will usually cover all the same illnesses and diseases as adult policies do, as well as some child-specific illnesses, such as cerebral palsy, cystic fibrosis and Type 1 diabetes.
Additional benefitsMost critical illness policies provide more than just a pay-out in the event of a claim. You may find that your cover gives you access to a wide range of additional ‘free’ services, such as access to support services from organisations such as RedArc nurses, or Macmillan, GP services and private prescriptions.
To find out more about children’s critical illness cover, or for a review of any existing cover to check if your policy includes children’s cover, get in touch with our expert protection advisers today on 0800 073 1932.