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Critical Illness Cover - Insuring The Children

rayprince@dsl.

By Ray Prince Category: 0

Submit your Articles Here!

rayprince@dsl.pipex.com.


Best regards

Ray Prince
http://www.medicaldentalfs.com

Critical Illness Cover - Insuring The Children
It's not a subject any of us like to dwell upon, but cancer
is a fact of modern life.

The good news is that advances in treatment and medication
mean that cancer is not the automatic death sentence it
once was.

Sometimes an even harder subject to comtemplate is children
contracting cancer.

The number of children who survive cancer has doubled over
the last 30 years, according to the Cancer Research
Campaign. In fact, 7 in 10 now survive the disease compared
to 3 in 10 in the 1960s.

Unfortunately, the incidence of childhood cancer has not
changed very much over the last 40 years. In 2000 there
were around 1,400 new cases diagnosed in Great Britain,
with 1/3 of these being leukaemia (source: National
Statistics Online).

When buying critical illness cover your priority may not be
covering your children, however when you think about the
impact that a sick child could have on a parent's personal
and professional life, it makes sense to ensure it's
included in the policy that you purchase.

The good news is that children's critical illness cover is
an additional benefit of almost every policy on the market,
and comes at no extra cost.

The claim amount is normally a percentage of the sum
assured up to a certain limit (e.g. £15,000) and applies
between the ages of 30 days and 18 years. Claims are
assessed against a cut-down version of the adult
conditions. Also, a claim under children's critical illness
will not affect the parent's cover or cause the policy to
come to an end.

Whilst heart attack and cancer are the two major causes of
adult claims, they are only ranked 5th and 6th for
children's claims (depending on the provider).

What could the money be used towards in the event of a
claim under the children's cover?

Well, it could be used for:

- medical treatment

- nursing care

- allow parents time off work

- special trip/holiday

In summary, the fact that children's cover is automatically
included in critical illness policies is a fantastic add
on. In the unfortunate event of a claim, parents and
prospective parents will always appreciate the value of
this benefit.

The Financial Tips Bottom Line

If you have critical illness cover, take the time to
analyse your existing policy to ensure children's cover is
included. You should find this in the policy details. If
you're unable to find it simply call the provider and they
should be able to provide you with the details.


----------------------------------------------------
Ray Prince is an Independent Financial Planner with
Rutherford Wilkinson plc, and helps UK Resident Doctors and
Dentists get the best deals on mortgages, protection and
investments, as well as helping them achieve their
financial objectives. Just visit
http://www.medicaldentalfs.com to get your free retirement
planning guide. Rutherford Wilkinson plc is authorised and
regulated by the Financial Services Authority.


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