Justin Taurog, distribution and marketing director for PruProtect, said the insurer was giving away up to £1m in free SIC for children and young people aged up to 18 to help raise awareness of the financial hardship that occurs when parents have to pay expensive hospital bills.
The SIC can be added to policyholders’ children when they take out any personal protection plan, even if the adults do not opt for SIC themselves, up to a maximum of £100,000.
The cover will protect families against the financial struggles caused when a child suffers a serious illness, such as childhood cancers – which, according to PruProtect, affect 1700 under 15s in the UK each year.
PruProtect will also be donating £5000 to Great Ormond Street Hospital to support those already affected by childhood illness.
Mr Taurog added: “We have always been advocates of parents taking out SIC to protect their children, even if they choose not to take the cover themselves.
“We want to raise awareness of this vital and incredibly cost-effective cover.”
- £10,000 of primary serious illness cover per child for every PruProtect plan put on risk between 1 July and 31 August
- Cover free for initial three years; thereafter policyholders can continue at an increased premium or remove the cover from plan
- Only applies to new business
- Minimum premium £25
- Only applies to children between three months and 18 years of age
- No limit to number of children covered on each plan
Mike Aldridge, adviser for Bath-based London & Country, said:
“This is something we will be highlighting to our customers. It is particularly good to be able to add this cover to life-only policies as it offers real peace of mind.”