Besides, insurance is not only a way to protect a child from an accident, it is a way to provide him with a stable future, accumulate initial capital for education, housing, and travel, take care of his independent life in advance.
Страхование жизни ребенка делится на:
Child life insurance is divided into the following types:
Risk (from the accident);
Endowment;
Voluntary health insurance (VHI).
We will review why it is worth to insure children and what type of insurance is of more priority in this article.
Accident insurance
Are you worried about your child, do you often travel or do you have an athlete growing up? This makes sense, as children often get injured, especially when we don't expect that. And it is not necessary during the travel it is enough to turn away on the playground.
Having insurance will not solve your fear issues, but it will give you financial stability and confidence that there will be money for medical care and rehabilitation at the right time.
Endowment life insurance
This type of insurance is popular because, in addition to protecting against expenses, it allows you to save money for a stable future. Education, marriage, own housing, trips will become available to your adult child after reaching a certain age.
In other words, these are funds that are accumulated on the insurance company’s account and are transferred to the insured person at the end of the contract. In this case, same as in a bank, the interest is accrued.
The downside is that the interest is small, and the contract is long-term, so the conditions must be chosen as carefully and scrupulously as possible.
And the huge advantages are that only the beneficiary can receive money under the contract, it is impossible to seize these funds and they are not divided during a divorce. You can also get an annual tax deduction from the amount of premiums, and if you lose ability to work, the insurance company will continue paying insurance premiums under the contract.
VHI for children
You are confident that your child will always receive the best care; you can always take him to the doctor and provide the necessary medical care. This is no longer compensation for what happened but a kind of prevention of the possibility of such situations.
VHI for adults is an important factor when choosing a job nowadays. A good VHI policy is a very tempting bonus. Who will provide the best medical care for your children? Obviously, you will.
The policy cost depends on medical institutions, which the company cooperates with and on services that are included in it. For example, if you want your policy to include dental treatment, be prepared to pay more. If you want to get help from a doctor at home, the price will also increase, and the cost certainly depends on age (more expensive for babies).
Photos are from open sources.
