Adding Child Cover to your Life Insurance policy can provide financial support if your child is diagnosed with a specified serious illness or, in tragic circumstances, passes away.
A lump sum benefit can help cover medical costs, time off work, and other unexpected expenses — giving your family support when it’s needed most.
Children’s Cover provides a lump sum payment if your child is diagnosed with a specified serious medical condition.
This financial support can help with treatment costs, travel, time off work, and other unexpected expenses — so you can focus on your child’s recovery without added financial pressure.
Cover is generally available for children aged 1 to 17 and may be converted to an adult Critical Illness policy once they turn 18, helping maintain long-term protection.
Choose the level of cover that suits your family, with benefit options typically ranging from $20,000 to $200,000 per child.
Any payout can be used however you need — from medical and treatment costs to covering household expenses if you need time away from work.
We’ve partnered with over 90% of Australia’s leading retail insurers, giving you access to a broad range of high-quality policies and competitive options tailored to your needs.
Taking out Children’s Cover helps protect your family from the financial pressure that can follow a serious illness or unexpected loss. It allows you to focus on supporting your child, rather than worrying about money.
If your child requires major medical treatment, the policy pays a lump sum benefit that you control and can use as needed — whether for medical bills, travel, time off work, or everyday expenses.
While it’s difficult to think about worst-case scenarios, having a financial safety net in place can help reduce stress and provide support during an incredibly challenging time.
If a claim is approved, a lump sum benefit is paid directly to you. There are no restrictions on how the money must be used — you have complete control over how it supports your family.
The payment can help cover specialised treatments, private hospital care, or medical costs that aren’t fully included in your health insurance.
It can also be used for ongoing care, household expenses, mortgage repayments, or other out-of-pocket costs during your child’s recovery.
In the most difficult circumstances, it can provide financial breathing room, allowing family members to take time away from work without the added pressure of immediate expenses.
Children’s Cover typically pays a lump sum if your child is diagnosed with a specified serious medical condition. In many cases, the full benefit may also be paid if your child suffers a terminal illness or passes away (subject to policy terms).
Covered conditions vary by insurer, so reviewing the Product Disclosure Statement or speaking with a broker is important.
Common conditions that may be covered (depending on the insurer and policy definitions) include:
Cancer
Stroke
Heart attack
Cardiomyopathy
Cover varies between insurers, so it’s important to review the relevant Product Disclosure Statement (PDS) to understand exactly what is included under your policy. If you need assistance comparing options, feel free to reach out for guidance.
Additional conditions that may be covered (subject to insurer definitions) can include:
Chronic kidney failure
Major head trauma
Major organ transplant
Severe burns
As coverage differs between policies, always review the relevant Product Disclosure Statement (PDS) to confirm what is included under your specific plan. If you’d like help understanding or comparing options, we’re here to assist.
Other conditions that may be included (depending on the insurer and policy definitions) can include:
Loss of independent existence
Loss of speech
Medically acquired HIV
Because definitions and eligibility criteria vary between insurers, it’s important to review the relevant Product Disclosure Statement (PDS) to confirm what your specific policy covers. If you’d like help reviewing your options, feel free to get in touch.
Meningococcal disease
Aplastic anaemia
Prolonged intensive care
As definitions and inclusions differ between insurers, always refer to the relevant Product Disclosure Statement (PDS) to confirm what is covered under your specific policy. If you need help comparing options or understanding the details, we’re here to help.
Additional serious conditions that may be covered (subject to policy definitions) include:
Coma
Blindness
Loss of hearing
Loss of use of limbs
Paralysis
Subacute sclerosing panencephalitis
As cover varies between insurers and policies, always review the relevant Product Disclosure Statement (PDS) to confirm the specific conditions and definitions that apply. If you’d like assistance reviewing your options, feel free to reach out.
Children’s Cover can provide several practical benefits for families:
Some policies include an early payment to assist with immediate funeral expenses, helping provide funds quickly during an incredibly difficult time.
Many policies contribute towards grief counselling or mental health support, easing the financial burden of seeking professional help.
Certain policies may include an accommodation benefit to help cover travel or temporary living costs if family members need to relocate to be with their child.
Unlike many adult policies, Child Cover premiums are typically not recalculated based on the child’s age each year (though premiums are not guaranteed and may change).
Child Cover is generally an affordable way to complement your family’s health insurance. As a guide, premiums may range from approximately $200–$400 per year for $100,000 of cover, depending on the insurer and structure.
Many policies allow conversion to an adult policy at age 18 without further medical underwriting, helping ensure continued protection into adulthood.
Before adding Children’s Cover, it’s important to understand how it works:
For the first three months, cover is generally limited to Accidental Death only. This waiting period may be waived if you’re replacing an existing Child Cover policy (subject to insurer terms).
Claims are typically not payable for illnesses, injuries, or events that occur or become apparent before the policy start date or within the first 90 days of cover.
Children’s Cover usually ends on the policy anniversary after your child turns 21. However, many policies offer the option to convert to an adult Critical Illness policy without further medical underwriting.
Adding Children’s Cover to your Life Insurance policy can provide valuable financial support when your family needs it most.
Speak with the team at AI Insurance to explore your options or request a personalised quote today. Let’s help you put the right protection in place for your family.
