Have You Thought About Accident Insurance for Your Children?
Have you thought about providing accident insurance for your children in case they are seriously injured in an accident of any kind?
The possibility of an accident putting your child in a wheelchair for life, is not one that anyone likes to ponder. Ignoring the possibility does not take that chance away though.
Parents are increasingly recognizing that it is necessary to insure their children against accidents. They want to know that in the event if anything toward happens to their son or daughter, that at least there will be no financial hardship; and that their child’s financial needs will be provided for the unforeseeable future if necessary.
Health insurance for children is normally included in family health insurance policies and is obviously worthwhile. Is that enough to take care of expenses that are not covered such as copayments and deductibles?
Health insurance for children may cover illnesses and broken bones, but rarely covers everything that can happen to a child.
Your family health insurance policy cover may not include:
Accidents on school trips. The school may well have insurance, but is it enough to provide a lifetime of care if your child has a serious injury while on a field trip?
Car accidents with uninsured drivers. Unfortunately many children are injured every year when uninsured drivers hit them. In most cases, the worst drivers usually have no insurance.
Mental health is not always adequately covered in a general family health insurance policy.
Accidental Death. Health care insurance policies rarely pay out if the insured person is killed. Money will be needed for counselling for siblings and parents as well as funeral costs in the event of an accidental death.
An increasing number of parents are asking insurance companies about accident insurance for children to cover these and other situations. Ask an insurance agent about the different accident insurance policies available and their costs.
The cost is low, because the risk is a low one. Providing accident insurance against such a low risk however, could mean a world of difference to your son or daughter.