Critical Illness Insurance… it’s not just for adults anymore
Insurance for children might not seem necessary, but if you have children, consider how your life might be impacted if your child was stricken with an illness. Not only may there be expensive medical bills, parents may also have to take time away from work to help tend to their child.
A child’s Critical Illness insurance policy will also provide the child with up 5 additional illness coverages that adults do not get offered. This includes Type 1 diabetes, cerebral palsy, congenital heart disease, cystic fibrosis and muscular dystrophy. You can also add a return of premium rider on the policy so that when the child turns 25, he/she can receive a refund of 75% of the premiums paid to that point.
If you would like to know more about how to protect your child from illness, please contact Jon Glougie.
This information has been prepared by Luft Financial. Opinions expressed in this article are those of Luft Financial only and do not necessarily reflect those of iA Private Wealth. Furthermore, this does not constitute an offer or solicitation to buy or sell any of the securities mentioned. The information contained herein may not apply to all types of investors.
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