Royal London has now introduced children’s critical illness cover and an enhanced edition to help parents cover the cost of serious illnesses in their children. Not only does it help save money on care, it also ensures your child is well taken care of if they were to become critically ill. Whilst it’s not pleasant thinking about your child becoming ill at all, let alone a serious condition, having critical illness cover for them can help to remove some of the financial stress and give you peace of mind.
Covering 46+ critical illness conditions for children
Royal London offers children’s critical illness cover whereby they pay out 50% of the costs up to £50,000 or £25,000 on the standard cover. Their standard option covers 46 critical illnesses alone. That’s loads! PLUS 14 additional conditions are covered up to 25% or £25,000 worth of cover with an enhanced plan. Normally, an adult critical illness policy covers on average around 45 conditions. So, already this puts the Royal London’s critical illness cover on the map.
Why do you need children’s critical illness?
Although we have the NHS, when it comes to serious illnesses the costs can rack up, even with free care! When a child is unwell, it can put a financial strain on the family from unpaid time off work, travelling to the hospital. Additionally, if there are other children in the family, they need to be looked after too so extra childcare might be on the cards. Having a sick child is stressful enough, without adding extra financial pressure. With children’s critical illness, you can take some pressure off yourself and get money back, so you can spend more time with your loved ones. Children’s critical illness is more common than you may think, so getting cover can help provide peace of mind.
Not so fun fact: Parents can pay, on average, around £2,256 in extra cost over the course of a baby’s hospital stay.
Flexible and tailored protection from Royal London
Royal London’s children’s critical illness policy has the option to choose standard or enhanced cover. Plus, if you don’t have children but are planning on it, you can add it to your adult policy later on. They recognise that family’s needs will change over the years and offer different levels of protection that are flexible. Therefore, you can find a policy that suits your needs and budget. The children’s critical illness policy you choose can be changed at any time without additional medical information.
So, what’s covered?
We’ve quickly made a list of the critical illnesses that are covered with Royal London’s children’s critical illness cover. Each condition needs to be diagnosed by a medical professional and meet their definitions in order for the company to pay-out. What’s really great is that they’ve also added pregnancy complications to their enhanced cover, which means if you’re planning on having a family, you can get extra peace of mind during the pregnancy that you will be protected financially if something goes wrong.
The additional critical illnesses covered in an enhanced children’s critical illness policy include:
- Total permanent disability
- Cerebal palsy
- Child diabetes mellitus type 1
- Child intensive care benefit
- Cystic Fibrosis
- Downs syndrome
- Edwards syndrome
- Muscular dystrophy
- Oseogeneis imperfecta
- Patau syndrome
- Spina bifida
That’s on top of 46 main critical illness conditions that comes with the standard cover.
PLUS, they have also now added pregnancy complications with additional conditions including ectopic pregnancy, stillbirth and newborn intensive care.
From birth to 21
These children’s critical illness policy options cover children from pre-birth to age 21. Ensuring you get protection throughout their childhood and adolescence. The premiums can be guaranteed or reviewable over the term of the plan. In addition to this, you can get the pay-out in one big lump sum OR get regular payments. Furthermore, you can opt for level, increasing or decreasing cover over the term of the plan. This can be useful if you’re paying off the mortgage, of adding to your family over time.
All the good things
Basically, it’s a pretty good policy for Royal London to offer their customers. At My Cover Expert, we think it’s one worth comparing if you’re thinking of getting children’s critical illness cover. It’s great for when you’re thinking of starting a family and can provide protection right up until adulthood. The main benefit of a policy such as this is that it can help alleviate any financial pressure when your child is sick or when you have complications during pregnancy. If you need time off work to care for yourself or your loved ones, this type of protection policy can really help. With a children’s critical illness policy, you can spend more time with your kids and family than worrying about your finances!
To compare life insurance and critical illness policies, get in touch. At my Cover Expert, we help people find the right policy to suit their needs and budget. Our service is free and you’ll get all the advice you need from our partnered advisors to find the perfect match for you.