Can You Get Insurance for Children?

When it comes to life’s priorities, your children’s health is probably near the top of the list. The problem is that Health Insurance for children is not something you can purchase and parents can’t legally insure their kids on an individual basis. But, all is not lost. Here’s how parents can go about addressing the problem and sorting out the gap in the market for health cover for children.

How Can You Protect Your Children’s Health?

It’s difficult to get Life Insurance for children(including cover such as Income Protection or Critical Illness Insurance) on an individual basis. This is because, in legal terms, parents don’t have what’s called an “insurable interest” in their children. This makes good sense but, as this is a requirement of any insurance contract, it means that parents don’t have the legal grounds to insure their children on an individual basis. This explains why there are no stand-alone children’s Health Insurance or children’s Life Insurance policies available on the market.

The notable exception to this rule is Private Medical Insurance for children (PMI) because the benefits are paid to the private hospitals that provide the care needed, and not to any beneficiaries, there’s no “insurable interest” to worry about. However, it’s far more common for children to be covered by their parents’ Family Health Insurance policies.

The same is true for other insured health benefits, as most mainstream life insurers can extend the Critical Illness Cover (CIC) they offer to include scaled down Critical Illness Insurance for children. This, however, is only a partial solution for concerned parents. Read more in our guide to Family Insurance.

The Small Print on Children’s Insurance

With many Critical Illness policies, the child is covered for the full list of conditions. However, some providers also include additional child-specific definitions, such as those present from birth, so it’s worth checking the small print if you’re looking for worthwhile protection.

It’s also probably worth focusing on those providers who have come up with more creative ways to enhance the children’s insurance coverage they offer as ‘riders’ on adult policies. You can call our friendly advisers on 02084327333 for fee-free advice and the most up-to-date provider information.