Children’s Life Cover provides a benefit of up to $25,000 if the insured child dies due to sickness or accident. This benefit is only available where a parent of the child is a life insured under a Reward Premium Life Cover benefit. To be eligible for this cover the insured child must be an Australian resident aged 0-17 years. Acceptance is guaranteed however a benefit will not be payable for congenita conditions or any pre-existing conditions the child has at policy commencement.
We recognise that families who experience the tragic loss of a child either through sickness or accident can experience a significant financial burden due to the loss of income of one or both parents as well as having additional expenses such as medical bills and funeral costs. Children’s Life Cover provides a lump sum payment to assist families with these costs.
Up to 6 child family members can be insured under a Children’s Life Cover benefit.
Core Benefit Features
- A parent must be a life insured under a Reward Premium Life Cover benefit
- The insured child must be an Australian resident aged 0-17 years at policy commencement
- Age 18
- When the Reward Premium Life Cover of the insured child’s parent ceases
- A lump sum benefit is payable if the insured child dies due to any cause
- $10,000 to $25,000
- Inflation Protection: automatic 5% annual benefit amount increase (may be declined)
- No medicals or health questions
- Guaranteed issue
- a pre-existing condition
- a congenital condition
- self-inflicted injury
- aerial activity
- motorised sport
- war or terrorism
- alcohol or drugs
- intentional act of carer