No one enjoys contemplating the emotional and financial consequences of contracting a serious illness. But when it’s a child that’s seriously ill or in need of emergency medical care, it becomes even more nightmarish for parents.
“Parents have to make big financial decisions. Preparing their family financially for an uncertain future is one of the most important of these. No matter how unpalatable the possibility, knowing that you are in a financial position to provide the very best care and medical intervention should your child suffer a health crisis is an important and valuable exercise that can make the emotional devastation a little more manageable. The financial consequences of a child’s illness can be onerous, particularly if a parent needs to take time off work temporarily, or possibly even permanently, to care for their child,” explains Ryan Chegwidden, Product and Technical Head at Hollard Life.
In addition to the 57 illnesses which you are covered for, Hollard’s Comprehensive Critical Illness benefit, provides a number of bonus features including:
- Family Cover – for your children for serious medical conditions is automatically included for no additional premium and the children’s benefit does not reduce the adult’s sum insured. It covers your children for the same 57 critical illnesses you’re covered for.
- The Catch All Benefit – provides a safety net to cover you if need an emergency lifesaving surgical procedure, or suffer a serious accident or illness not already covered that results in extended hospitalisation. The Catch All Benefit also applies to children covered under the policy (subject to the specific policy limits for children).
It should be remembered that the intention of Critical Illness cover remains the same for adults and children:
- That you have the option to pursue the best medical care possible.
- As far as possible, it’s about alleviating financial hardship as a result of medical expenses that may not be catered for by a medical aid (including any hardship because of having a parent take time off work, as an example).
- The cash payout can be used to make provision for child care, nursing care at home or other forms of assistance to adapt your lifestyle.
- The payout can be used to make modifications to the insured’s home or car in order to remain accessible and independent as far as possible.