Extra protection for what your clients value most
Feb 7, 2017, 14:34 PM
by Hayley Grimshaw, Critical Illness Product Manager
For adviser use only. Not approved for use with customers.
Upgraded children’s benefit
Previously, I told you about our upgraded critical illness benefit
and what it means for your clients who choose to ‘boost’ their cover with this optional benefit. Today, I want to take the opportunity to tell you about our upgraded children’s benefit. Again, this is an optional benefit, giving those clients who need it even more protection. Upgraded children’s benefit can be included with Life Insurance+ (where critical illness has been selected) and Critical Illness+.
Why did we create it?
To give your clients choice and flexibility. Just like adult cover, where clients can upgrade if they want our most comprehensive protection, children’s benefit can be upgraded too. Not all of your clients will require our most comprehensive children’s cover, so we’ve made a significant part of our children’s coverage optional. This gives your clients the flexibility to choose the cover that’s most relevant to them. And should in the future, cover no longer be needed (for example, when their youngest child reaches age 21) then the optional benefit can be removed.
So what’s it all about?
Automatically included with our critical illness cover is children’s benefit, which means any children your clients have are covered from 30 days old, for 38 critical illness conditions. The amount we’d pay if they had to claim is 25% of the cover amount, up to a maximum of £25,000. With upgraded children’s benefit, children are covered for the same 38 conditions, but the coverage starts from birth and the amount payable is a fixed sum of £25,000 – regardless of the adult cover amount. In addition, coverage also includes, eight upgraded children’s critical illness conditions – again, for a fixed amount of £25,000. They include child specific conditions such as Down’s Syndrome, Cerebral Palsy and Cystic Fibrosis.
Cover also includes 11 child extra care cover conditions. We identified that some conditions have the potential to severely impact not only the child who is suffering, but also the family and care givers. For this reason, these conditions result in a payment of £50,000 – a fixed amount regardless of the adult cover amount. Conditions include, but are not limited to, blindness (even when present at birth), Muscular Dystrophy and loss of independence.
Advanced illness cover is there to offer £10,000 of financial support to those whose child is suffering from a life limiting condition. This could be on top of any upgraded children’s critical illness claim already paid.
This is all in addition to valuable benefits already included under children’s benefit:
Hospital benefit – where a child has been in hospital for more than seven days, we will pay £100 per night for any further night’s stay, up to £3,000. This is in addition to any other claim that may be made.
Children’s death benefit – this £5,000 benefit is extended to cover children who die any time after birth, including those born after the 24th week of pregnancy.
What’s special about Aviva?
In addition to all the benefits listed above, your clients, including their children, can further benefit with cover from Aviva because of our Support Plus package, which is included with all our protection policies.
Where clients have selected our Global Treatment option, children are also covered, providing access to treatment abroad for certain medical conditions. And finally, where increasing cover has been selected, all children’s and upgraded children’s benefit amounts will also increase, excluding hospital benefit.
By making the benefit amounts under upgraded children’s benefit fixed values, and not a percentage of the cover amount, clients taking out decreasing cover will be able to maintain valuable children’s cover at the same benefit amounts.
Although thinking about and discussing this topic can be understandably upsetting, planning for the possibility and helping towards financial stability should something awful happen, can prove to be an important financial life-line. We know how beneficial this cover can be and hope you agree that upgraded children’s benefit is an important option to discuss with your clients.
Critical Illness Product Manager
Learn more about our critical illness cover