Your Stories

Daniel's story

You may have organised insurance cover for yourself, and perhaps for your partner, but have you considered insurance for your children?

There are a number of children’s insurance covers which can be added to your policy.  Children’s life cover is available from the age of 10, as is trauma insurance which enables a one-off lump sum payment for a number of critical illnesses and conditions.

Another option is children’s future insurability option, which is available for children up to and including the age of 15, securing their future ability to take out life insurance.

This future insurability option means you can have your child pre-approved now and as soon as they turn a specified age or a specific event happens (such as getting married), you have the one-time option to take out life insurance cover for that child, which will be issued at standard premiums.

Daniel's story shows how it can help your children in the future.

Daniel’s parents chose to take out children’s future insurability option for Daniel when he was 11 years old.  A full health assessment was undertaken at the time and the option was issued.

This simply meant that for $1 per month, Daniel’s parents had locked in the option for him to take out life insurance when he got married.

When Daniel was 15, he was diagnosed with type 1 diabetes, which may have impacted his ability to get life insurance in the future.  But because his parents had locked in the child’s future insurability option, he could still take up life insurance at the nominated age or with a specific event (like getting married) and for the pre-determined premium, which would otherwise have been impacted by his diabetes.

Most importantly, the process for Daniel to take up life insurance was simple.  There was no requirement to provide any medical, occupation, pastime or financial information.

His parents’ foresight had protected the future for Daniel, his new wife, and any future family.

If you would like more information about cover for your children, please contact your financial adviser or call Fidelity life on 0800 88 22 88.

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This story has been adapted from a real-life claim to illustrate product benefits.

This article was originally published in December 2014 and changes in products and services may have occurred since then. Please speak to your adviser or call us on 0800 88 22 88 if you'd like to discuss cover.

Disclaimer: The information published here is not financial advice. At Fidelity Life, we try hard to make the information we publish accurate and helpful to you, but we cannot guarantee its accuracy and we aren’t liable for any action you take as a result.

At Fidelity Life we believe strongly that financial advice should be tailored to your needs, and that you should get your advice from a professional financial adviser (which we are not). We can help you find a financial adviser in your area if you would like advice.