A good child insurance policy covers both accidents and illness. Children and adolescents are often insured via their school or childcare centre. These policies only cover accidents and are often only valid during school hours. Children need a separate child insurance policy to be protected for both accidents and illness.
Things to keep in mind
- Policies signed by municipalities, private schools and preschools do not cover illness – find out what applies in your municipality and buy additional insurance if necessary.
- It is important that a child insurance policy provides disability compensation for both illness and accidents.
- Not all illnesses are covered. Child insurance policies generally exclude congenital conditions. Additionally, coverage may be limited for certain conditions, such as mental illness.
- The insurance is only valid for illnesses and injuries that occur after the policy is signed.
- Read the terms and conditions carefully – contact the insurance company if there is anything you do not understand.
How to sign an insurance policy
You can sign a child insurance policy on the insurance company’s website, through an insurance broker or via the insurance company’s customer service. Another option might include insuring the child in a group policy. When you apply for an individual insurance policy, you will have to complete a health declaration for your child. The insurance is only valid for illnesses and injuries that occur after the policy is signed.
Exclusions for illness
All child insurance policies have exclusions and limitations for certain illnesses. Individual policies include illnesses where compensation is limited in the policy terms and conditions. A number of companies state that congenital conditions are excluded if symptoms occurred before the age of six years. In addition to congenital conditions, restrictions are common for mental illnesses, neurological and muscular conditions.
A child insurance policy runs for one year. You then have the right to renew the policy, but the company may change its conditions. They must inform you of this. You can receive certain kinds of compensation, such as disability, from more than one policy, for example if you have one through school and one on an individual basis.
You can choose from several insurance amounts for different costs. The insurance amount affects the disability compensation you can receive after illness or injury.
What is included?
The most important coverage included in a child insurance policy:
- Medical disability (a permanent physical or psychological disability)
- Financial disability (a permanent incapacity for work)
- Compensation for healthcare contributions
- A lump sum in the event of a serious condition being diagnosed
- Compensation for older children in the event of sick leave
- Compensation for hospitalisation and healthcare costs
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