According to the International Children’s Palliative Care Network, every 3 minutes a child is diagnosed with cancer.

This #ChildhoodCancerAwareness Month our thoughts are with those families who may have a child battling cancer. A child being diagnosed with cancer is every parent’s worst nightmare, the diagnosis can have a significant impact for any family’s emotional and financial wellbeing. And although they may not be able to stop the critical illness, they can be prepared for it. That’s why we take care of the little warriors.

A combination of income and lump sum benefits

Whilst the market traditionally offers lump sum critical illness cover to children, there are often additional monthly expenses if your child is diagnosed with a critical illness.

Many parents may want to be able to take time off work in order to provide their child with emotional support during this difficult time. FMI believes in providing you with a solution that consists of income and lump sum cover for your children.

Critical Illness Lump Sum

If you take out Critical Lump Sum cover, all your children are automatically covered for 10% of your benefit to a maximum of R250 000, to provide for additional or once-off expenses incurred. In addition to your list of critical illnesses, they will also be covered for an additional 10 child-specific conditions.

Child Protector

To assist with additional monthly expenses, parents can take out the Child Protector benefit which will pay up to 50% of your after-tax income (up to R15 000 per month) if your child is diagnosed with a listed critical illness. The payments are made for 24 months following diagnosis and will continue until your child’s 18th birthday, if they meet the Childhood Disability definition.

Informative Reading | July 20, 2020

Do you understand your waiting period?

Taking the time to understand the basic details of your policy and your chosen waiting period upfront will mean a better outcome at claims stage.

Continue Reading
Informative Reading | July 20, 2020

Temporary income protection is not enough

When it comes to income benefits, many customers only have temporary income protection, which typically pays for 24 months. But what would happen after the benefit term if a claimant is still unable to work?

Continue Reading
Informative Reading | May 07, 2020

When last did you check in with your adviser?

Here are 6 questions to ask your adviser to ensure you understand your cover.

Continue Reading