Life has a lot of unexpected twists and turns, and unfortunately, they’re not always good ones, so planning for the future is important. One of the best ways you can do this if you have a growing family is by investing in child critical illness insurance. The team from Desjardins Financial Security Independent Network (DFSIN) Toronto West has helped hundreds of families remain financially stable even in the worst scenarios, so we’ve collected some more information for you about how to obtain critical illness insurance for your child here.
Below you’ll find some of the benefits of child critical illness insurance and tips for obtaining the right policy for your family.
Why is Child Critical Illness Insurance So Important?
Many think that simply having life insurance will be enough to protect their family in the future. Unfortunately, this isn’t always the case, especially if you have a child diagnosed with a critical illness. This is because often, parents will have to take a significant amount of time off work to care for their sick child. Additionally, a critical illness can be costly, requiring significant medical care, medication, co-pays, and other expenses.
Critical illness insurance for a child will help ensure that you’re able to meet the necessary financial obligations by providing you with a one-time, lump-sum payout should your child be diagnosed with one of 29 illnesses, including:
- Cystic Fibrosis
- Autism Spectrum Disorder
- Vital Organ Failure
- Cardiovascular Illnesses
- Accident & Functional Loss (coma, deafness, blindness, brain injury, etc.)
- Neurological Illnesses
How Do You Obtain Child Critical Illness Insurance?
In some cases, your current life insurance policy may also be able to extend to cover your family should your child be diagnosed with a critical illness. However, coverage may vary and some plans might not cover certain illnesses, so it’s important to read through the details of your plan with a fine-toothed comb.
In the case that your child isn’t covered under your life insurance policy, there are a host of affordable child critical illness insurance plans out there, like the ones available from DFSIN Toronto West.
Contact us for more information about critical illness insurance for your child today!
If you want to make certain that you’re prepared for whatever the future holds, contact the team from DFSIN Toronto West to learn more about our child critical illness insurance plans. Call us today at (416) 695-1433 or contact us online!