No one wants to think about childhood critical illness, but sadly the number of children and young people in UK with serious or exceptional health needs is growing. It’s estimated that there are 100,000 children and young people living with serious health needs in the UK1.
And unfortunately, we see this first hand – children’s critical illness is consistently one of the top five reasons that our customers make a claim on their Critical Illness Cover2.
When your clients consider taking out critical illness cover, they’re probably thinking about their ability to pay the mortgage or bills if they’re ill or incapacitated. But if their child is ill, it can put a financial strain on families too. Parents often find that they need to take unpaid time off work, as well as meet the extra costs associated with frequent trips to hospital. And if they have other children, this could mean paying for additional childcare.
However, despite the financial and emotional toll childhood illness can have on a family, children’s critical illness cover is still often regarded as a supplemental cover within an adult policy.
In recent years, we’ve seen attitudes to critical illness cover change. It’s no longer about the number of critical illness definitions within a policy. Many consumers now recognise the importance of having good quality cover for conditions they’re most likely to get. If providing cover for the biggest risks is important for adult cover, shouldn’t that apply to children’s cover too? When it comes to providing children’s critical illness cover that matters, tailored cover is key. What suits one client might not suit another.
What about your clients who don’t have children – is it fair to assume everyone wants children’s cover automatically included within a policy? And a family’s needs are bound to change as children grow up. That’s why, when your clients take out Critical Illness Cover with us, they can now choose a level of children’s cover that best meets their needs.
Ross Jackson, Senior Marketing Manager, Royal London
Sources: 1. Impact Report: Building on a Decade of Care, wellchild.org.uk, 2017. 2. Royal London UK protection business claims paid (1 January to 31 December 2016).