Blog Article

Critical Illness Cover for Children – why bother?

Critical Illness Cover for Children – why bother?

Date: 25 May 2023 | By: Marketing

When you borrow money – be that a mortgage or loan, you are often asked to consider taking out some form of payment protection. This might be life insurance, mortgage protection or income protection.  An additional but important product is critical illness cover.

What is Critical Illness Cover?

Critical Illness Cover is insurance that will pay out should you become critically ill, or diagnosed with a life-limiting illness. You receive a lump sum when you are diagnosed and the payout aims to cover you for lost income and can help towards treatment costs, or the upkeep of your home whilst you are unable to earn.

At a time of great stress, this helps to alleviate any concerns you may have about paying for treatment or borrowed monies and allows you to focus on your treatment, recovery or the time you have left.

How does Critical Illness Cover benefit my family?

In as much as Critical Illness Cover provides you with peace of mind, it can do the same for your family.  Also, remember that the lump sum you receive can be used for treatment; rather than waiting for an under-resourced NHS, you could choose to have private treatment for a speedier recovery.

Are my children covered under my Critical Illness Policy?

Often children are covered under a critical illness policy, Your insurance broker will talk this through with you when discussing the policy at the outset – if they don’t, then make sure that you ask. If they are not automatically covered, they usually can be added to your policy.  Broadly, children will be covered from birth to the age of 18 (or older if in education), but policies will vary.

Why does my child need Critical Illness Cover?

Of course, we hope that they don’t. It’s nothing short of a horrendous thing to think about. But children do get critical illnesses and this can be a very worrying and expensive time for parents.   If your child becomes ill, you will want to focus all of your time, energy and resources on their treatment and recovery.  Hospitals with specialist paediatric units aren’t always on our doorstep and so parents often find themselves having to take their children to hospitals some distance away for treatments that can include extended stays.  And this makes your work-life difficult, often impossible. So much so that many parents request a leave of absence.

Furthermore, hospitals can’t always accommodate parents overnight and so overnight stays in hotels become an expensive necessity.

What other benefits are there with Children’s Critical Illness Insurance?

Benefit is a difficult word to use in these circumstances, but taking the financial burden away from parents at a terrible time must be viewed this way.  Many policies will cover  the cost of adapting your home this is required, and also funeral costs,

My child is adopted, would they qualify for Critical Illness Cover?

Yes, and your step-children would also be eligible. Let your broker know from the outset so that this can be checked against all of the required criteria.

What should I do next?

Talk to your mortgage and protection broker about your existing policy and check to see if your Critical Illness Cover includes your children.  If you don’t have a policy in place, have a no-obligation conversation with our specialist advisers.  Call 01639 262222 or email us directly.


First Protection Solutions is a brand of First Mortgage Solutions. We were established in 2016 and are specialists in mortgage and insurance protection.  We are independent and are 5-star rated on Google.