Parents insure their pets first instead of their children – why? 

Guardians are more likely to protect the health of their pets than their children’s. Less than one in 10 people i.e., approximately 4.5m people, have a critical illness policy, which pays out if you are diagnosed with a critical illness, such as cancer. In contrast, 5.9m people have insured their pets.

Nobody wants to think about themselves or their child’s becoming critically ill. However, sadly, sometimes there is no getting away from it, which is why children’s cover has been a part of adult critical illness policies for more than 20 years.

Why is it so important to have your child insured?

A survey by one of the leading insurers– found that parents were most likely to have life insurance, a critical illness plan or income protection policy in place. However, 6 out of 10 parents with children under the age of 18 had no policy at all in place to cover their own or their child’s medical expenses. Or, to replace income should they be unable to work for an extended period. Parents were asked the maximum they would be prepared to pay for a critical illness policy which covered themselves and their children. 15% said they would be prepared to spend £5 a month, 17% would spend up to £10 a month and a further 10% said a monthly premium of £20.

These figures are broadly in line with the cost of pet insurance. Where some people will have budgeted policies and others pay for a more expensive life cover.  While critical illness payout a lump sum if you are diagnosed with one of many serious illnesses covered within the policy. Income protection pays a proportion of your salary per month while you are off work due to ill health. Most policies don’t restrict payouts to a limited number of named conditions, and they will continue until you return to work.

On a median, parents can spend £600 in additional expenses per month such as travel and accommodation when coping with a child’s cancer diagnosis. While it’s hard to think about, we need to accept that a child is critically ill is likely to affect a family as much as an adult being ill. In addition, there is a potential loss in household income to fulfil carer responsibilities. Hence, it is worth insuring your child’s health.



We would recommend you to talk to one of our advisers for life insurance quotes.
Any quote that your adviser provides you with will take into account your circumstances, your medical history, as well as your budget!
Call 011-3733-4610 – Monday to Thursday from 11.00 to 19.00 and on Friday between 11.00 and 16.00
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