Parents with sick children need financial flexibility says Zurich
21 April 2010
Parents with children who suffer severe illness or trauma not only deal with enormous emotional strain but also are likely to suffer severe financial stress. They face unexpected indirect costs of treatment, recovery, time off work which all of which are not covered by Medicare or health funds.
Zurich Financial Services Australia has updated its insured child cover to give parents the financial flexibility to ensure they can afford additional or indirect costs. The cover will help parents in the choice of doctor, treatment overseas, temporary relocation or taking time off work to help their sick or recovering children or pay for special care and surgery.
"The financial adviser market is more focussed on insurance cover for children than ever before, and Zurich has stepped up provisions under its child cover insurance to ensure that parents get cover that is of real value when the worst happens." said Mr Marc Fabris, National Manager Sales Strategies & Research at Zurich.
"We hear about the severest of childhood trauma cases in the media, but few are aware that 41 per cent of Australian children aged under 15 years had a long-term health condition.1 If the health condition is severe, the financial strain, added to the emotional stress, can be overwhelming for a family and this could impact the ability to afford the best treatment or recovery available for their child.
"The new cover provides financial support to relieve financial stress and to provide choices to aid in their child's recovery. For example, it can make it more affordable for parents or carers to take time from work to be with their sick children, particularly important for those in regional or country areas who need to travel or relocate to be with their child through treatment and recovery," he said.
Zurich's new insured child option provides up to $200,000 death, terminal illness and trauma benefits cover for children over two years of age. Each child is separately underwritten when attached to any adult benefit within the Zurich Protection Plus policy. Once the child reaches 18 the cover can be converted to an adult policy without providing further health evidence.
1 Australian Bureau of Statistics 2006, National Health Survey: Summary of Results, Australia, 2004-05, cat. No 4364.0, ABS, Canberra.
ENDS
For further information contact:
Rob White
Corporate Communications Manager
Zurich Financial Services Australia
Business ph: +61 (02) 9995 1557
Mobile: +61 (0) 411 881 887
Jane Legge
Communications Manager
Zurich Financial Services Australia
Business ph: +61 (02) 9995 1591
Zurich Financial Services Australia provides wealth protection and wealth creation solutions, offering general insurance for commercial customers, and life risk, investments and superannuation solutions for corporates and personal customers. Zurich's solutions and services are primarily accessible through insurance brokers, financial advisers and other intermediaries in Australia and New Zealand.
Zurich Financial Services Australia is part of the worldwide Zurich Financial Services Group (Zurich), an insurance-based financial services provider with a global network of subsidiaries and offices in North America and Europe as well as in Asia-Pacific, Latin America and other markets. Founded in 1872, the Group is headquartered in Zurich, Switzerland. It employs approximately 60,000 people serving customers in more than 170 countries.
|
