Protection Newsletter Spring 2021

PROTECTION NEWSLETTER 12 I t might just be me, but why is it that when the subject of life insurance or serious illness cover comes up, the focus always seems to be exclusively on adults? We all say – and sincerely mean – that there’s nothing we wouldn’t do for our children. So the fact that they are rarely even considered for inclusion on life insurance seems puzzling. After all, everyday hazards affect adults and children alike. For instance, there are around 1,900 new children’s cancer cases in the UK every year, that’s around five every day 1 . We may not like to think about these things, but the sad truth is that they do happen. The impact of such events on a family is profound, not to mention the pressure it can put on finances, further adding to the considerable stress these situations produce. Your clients should ask themselves, for example whether they could currently afford, in monetary terms, to take a few months off work to help nurse their child back to health? Would they even want to work at such a time, anyway? So there’s a lot to be said for taking another look at their life cover, to make sure it also extends to their children. VitalityLife offer Child Serious Illness Cover which provides the same market leading cover as an adult, covering more illnesses than any other critical illness plan in the market2. Parents have the flexibility to choose cover amounts, with the option to select between £15,000 and £100,000, and cover includes a children’s hospital benefit which pays £100 per day if their child has to stay in hospital. The cover protects children against some 182 conditions with Serious Illness Cover Plus and 153 with Serious Illness Cover – that’s more than any other provider 2 . This means that, if your client’s child suffers an accident or illness , the cover would pay them a lump sum, which they could use to pay for treatment; their mortgage; bills; or to help cover any other costs that may come up. In addition, VitalityLife’s Child Serious Illness Cover is also unique in that in can be added as a standalone option to Life Cover (Term or Whole of Life), Serious Illness Cover or Income Protection Cover – without the need for the adult to have Serious Illness Cover. A final thought: around 1,800 new cases of childhood cancer are diagnosed each year in the UK1. How much comfort insurance cover can provide in cases like these is open to question. But what can’t be disputed is the time it buys for them to regroup and focus on what matters most: protecting the wellbeing of those they love. To find out more about VitalityLife’s Child Serious Illness Cover visit here or contact your local Vitality Business Consultant for personalised training. ● 1 childrens-cancers, accessed Dec 2020. 2 Defaqto verified Competitor Comparisons, October 2020. Our children are our most precious asset. So why don’t we protect them in the same way as everything else we treasure? VitalityLife