It’s every parent’s greatest fear: a serious childhood illness or disabling accident. Children are not supposed to become sick or disabled, and adults rarely think about such tragedies until their own child is stricken. However, without children’s trauma insurance in place before an accident or diagnosis, the financial, medical, and emotional ramifications of a serious diagnosis can be life shattering.
What type of protection is available for our children’s medical needs, and how best to compare children’s trauma insurance policies to ensure your peace of mind? At MultiCover.com.au, we provide a variety of providers and insurance plans to compare and choose from.
The statistics can be frightening. It has been reported that each year more than 600 children in Australia are diagnosed with some form of cancer, and an average of three die from the disease weekly.[i] While it is impossible to protect our children from every danger, being prepared for a serious medical condition can ensure your ability to provide them with the best medical and rehabilitative care available.
In many cases, a children’s trauma insurance policy can be attached to a parent’s policy, offering peace of mind that your child will be cared for if the unthinkable happens. Upon diagnosis, your children’s trauma insurance policy can provide a lump sum payment that may be used to ease the financial pressures that families face under these circumstances. It can also mean the difference between bare bones medical care and access to the best specialists, medications, and rehabilitative care not covered by Medicare or even many private health plans. In some cases, a children’s trauma insurance policy can even provide income replacement benefits for a parent who takes time off from work to care for the child, or fund a family holiday to ease the stress of the situation.
Every insurance provider has their own list of illnesses and injuries covered on their plans, which is why it is so important to compare children’s trauma insurance policies and choose the one that will provide you with the best coverage for your family’s needs.
Generally, most children’s trauma insurance policies cover:
- Loss of vision/blindness
- Brain injury/brain damage
- Heart disease/cardiomyopathy
- Kidney failure (chronic)
- Hearing loss/deafness
- Emergency hospitalisation/ intensive care
- Intracranial benign tumour
- Dismemberment/loss of limbs or sight
- Loss of speech
- Head injury/major head trauma
- Organ transplant
Remember, there can be significant differences in the medical definitions listed by insurance companies, so make sure to compare children’s trauma insurance policies and ask a professional advisor for help if you have any questions regarding coverage.
You may want to ask your insurance provider about a policy with a continuation option, which can convert the children’s trauma insurance policy to an adult contract after he or she reaches a certain age. Learn more about children’s trauma insurance and compare policies by visiting MultiCover.com.au, and discover the peace of mind that insurance protection can bring.