No parent wants to think about something happening to their child but most of us know of a family that has been through a medical nightmare with one of their kids.

There’s the shock that it happened to them & their family, then the doctor & hospital visits, and the disruption to the whole family’s life while it is put on hold.

It’s a difficult topic to talk about but I choose to bring it up with my clients as it is my job to take away the financial burden of such events.

You will have medical expenses to deal with, along with time off work for parents and maybe some additional child care for the other children.

So what would you need to take away the financial worry in this situation?

The average Australian family may have some life and Total & Permanent Disablement cover for both of the parents, and the breadwinner may have some income protection insurance. These insurance covers are traditionally not going to help in this situation.

Children’s Trauma Cover (or Child Cover) is a very inexpensive way to deal with this financial worry.  For around $5 per month, you can have $50,000 of cover that is going to fill the gap in your living expenses (the lump sum amount is not a restricted payment).

You can now afford the best medical care for your child, have both parents take leave without pay from their jobs, have your other children cared for, and fill any other financial need.

Some insurers offer this cover as stand alone cover, and some other insurers offer this cover as an additional benefit of the parent’s income protection cover or trauma (critical illness) cover.  Have your financial adviser review your insurances to see if you have the peace of mind associated with this cover.

Any advice given is general only and has not taken into account your objectives, financial situation or needs. Because of this, before acting on any advice, you should consult a financial planner to consider how appropriate the advice is to your objectives, financial situation and needs.
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  • Thank you, something to think about.


  • Good knowledge to know! Thanks for sharing this!


  • Very interesting and important to think about!


  • I wonder if my existing insurance covers this?


  • i never knew that this was a thing.


  • but i thought all of this was just covered by Medicare what’s the difference?


  • This is great, never heard of it, where can I get it from?

    • HI KEELEYNME, you can get this insurance through a couple of retail insurance providers, either as separate cover or as part of your adult trauma (critical illness) insurance cover. Cost can be as little as $10 a month. Speak to your financial adviser or contact me below for more information.


  • interesting article and reading .thanx.


  • There used to be a system by a particular Insurance Company that covered injuries at school. I broke my arm at school when two of us jumped up for a ball and collided. I fell face down with my arm under me.


  • Thank you for sharing this I had never thought about this type of cover


  • Question: What’s the point of Private Health Care cover then?? If you pay top cover isn’t that supposed to do with the insurance does?

    • Valid question SARNY84 – your private health cover is only going to reimburse you for some of your medical expenses. You will have other financial considerations on top of the medical expenses gaps and with this Child Cover you are not restricted in the use of this lump sum payment. You will probably want & need to take significant time off work, which will be covered by any personal leave you have with your employer but won’t be covered by your income protection insurance. It would be nice to know you can cover your living expenses when you take unpaid leave from your job.


  • A very difficult topic, now I’m off to buy cotton wool to wrap my kids in.


  • We took out a policy similar to this, it was 24/7 365 days a year, and it was through a school insurance policy – it paid for itself ! I had two sporty children – broken toes, fractured jaw in basketball – and other mishaps that children get into – did not have to be school related, and really took away some of the worry .


  • Thanks for sharing this information.


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