A parent’s number-one concern is the health and happiness of their children. Ensuring that their children have the resources to help them pursue their dreams is often their top financial priority. Planning for the unexpected should include planning for illness. In the event that your child is diagnosed with a critical illness, you can receive a lump-sum benefit that gives you choices that you would not normally have, such as:
- Taking time away from work or other obligations to be at your child’s side,
- Fulfilling a dream to encourage your child to make a full recovery,
- Paying for prescription drugs or specialized treatments that may not be covered by the public healthcare system.
Chances are that due to the advances in medical treatments, your child will survive a critical illness. But how will it affect your savings? A little planning today can go a long way to ensure that tomorrow’s challenges can be overcome and dreams will come true.