Parents are risking the financial security of their families should they become seriously ill by not buying critical illness (CI) protection.
Of the small percentage of those who have purchased insurance, a significant number did not know if it included cover for their children. According to a study by Ageas, only one in twenty (6%) parents has a CI policy in place and one third (31%) of those did not know its coverage of children's diseases. It estimated that almost 300,000 parents needed to check their policy to see if it extends to covering their children. And of the one million parents who have a CI policy in place, 35% of those are just themselves covered by their CI policy. Surprisingly, only one third of parent...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes