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                Critical Illness Insurance for Children

 

An individual critical illness traditional insurance for children: upon diagnosis of a critical illness covered by the contracts, the parent (policyholder) receives a lump sum payment that can be used to stay by their child's side. This protection also includes  the Prompt Recovery services with Best Doctors.

 

This insurance also provides a refund of premiums for children that are not diagnosed with a critical illness which can allow them to realize their dreams and aspirations.

 

 

Issue ages - 30 days to 17 years (age nearest)

Sum Insured - Min: $25,000;  Max: $250,000
Premiums - Level and guaranteed

Premium duration - 2 options of payment: Lifetime and 20 years

 

Covered illnesses/conditions   

In addition to the 25 illnesses , this insurance also may cover up to 6 other childhood diseases.

There are 2 options of covered illnesses :

a)  28 illnesses  (including 3 children's illnesses: Autism, Rett Syndrome and Cystic Fibrosis)

b)  31 illnesses  (including 6 children's illnesses: Autism, Rett Syndrome, Cystic Fibrosis, Type 1 Diabetes Mellitus,  Cerebral Palsy and Muscular Dystrophy)

These 2 options include Recovery Cash Advance Benefit and the Serious Complications caused by Infectious Diseases (West Nile Virus, Lyme disease, E.coli infection, Necrotizing fasciitis)
 

Return of premiums upon surrender    

Option for return of premiums available from 5th anniversary

The percentage of refund is equivalent to 25% of paid premiums and increases each year to reach 100% at 20th policy anniversary.
 

End of coverage             

Coverage terminates in the event of one of the following:

 - Diagnosis of one of the critical illness covered

 - Insured's death

 - Date of surrender (a return of premium is available at 5th anniversary)

 

This is  is a brief description of this kind of insurance. For more information, free consultation and free quotes please call at 416-493-0101 or toll free 1-877-443-0101.

 

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Investments:    RESP     RRSP     TFSA     Guaranteed Investments     Segregated Funds

                                                     Revised: December 01, 2010