overview
Overview
Minimum entry age |
2 |
|---|---|
Maximum entry age |
17 |
Benefit expiry age |
Plan anniversary after the insured child turns 19 |
Minimum sum insured that can be applied for |
$10,000 |
Maximum sum insured that can be applied for |
$200,000 |
Premium type |
Variable age-stepped premium (currently, the same premium rate applies across all ages) |
Funding option |
Child Cover is only available outside of super |
Product structure combinations |
Stand-alone Child Cover Child Cover can only be applied for in conjunction with Life Cover, TPD Cover or Critical Illness Cover for the insured child’s parent or legal guardian |
keybenefits
Included benefits
Child Cover provides a comprehensive range of included benefits. These are listed below.
All Child Cover benefits are subject to the full terms and conditions outlined within the Futura Protection PDS.
Death Benefit
Provides a one-off, lump sum payment, if the insured child dies.
Terminal Illness Benefit
Provides a lump sum payment if the insured child is diagnosed with a terminal illness.
Child Critical Illness Benefit
Provides a lump sum payment if the insured child suffers a specified critical illness event.
Funeral Advancement Benefit
Advances 10% of the Death Benefit up to a maximum of $25,000, to help with immediate costs such as a funeral.
Indexation Benefit
Automatically increases the sum insured on each plan anniversary by the higher of 5% or the percentage increase in the Consumer Price Index (CPI).
Suspending Cover Benefit
Suspends cover for up to 12 months if the insured child’s parent or legal guardian is experiencing financial hardship.
Accommodation Benefit
Reimburses an immediate family member’s accommodation costs up to $250 per day if the insured child is confined to bed and a family member has travelled to be with them.
Grief Support Benefit
Reimburses the insured child or their immediate family member up to $1,000 for the cost of grief counselling from an accredited counsellor if we’ve paid the full Child Cover sum insured.
Continuation of Cover Benefit
If the insured child’s parent or legal guardian dies or cover ends for any reason, the insured child’s other parent or legal guardian may continue the Child Cover by moving the Child Cover under their own plan.
Conversion of Child Cover Benefit
If the insured child is 18 or 19 years old, they have the option of converting their existing cover to Life Cover or Critical Illness Cover attached or linked to Life Cover without having to provide evidence of their health, occupation and pastimes.