Kids Insurance, not to be confused with Life Insurance for kids, is an easy way for parents to protect their family from an unforeseen financial setback in the event of an accident or critical illness.
We’ve been asked some common questions about why parents should consider Kids Insurance, and how it works with their existing Provincial Health Care plan. And to get you first-hand feedback, we surveyed Goose Members that bought Kids Insurance for their goslings.
The top question that gets asked before parents buy Kids Insurance is “how is this different from a Provincial Healthcare plan?”
Most provinces across Canada only cover the basic medical services your child may require. Services that are typically not covered by a Provincial Health Care plan BUT are offered by the Goose Kids Insurance policy are
Eyecare over age 18
Replacement of Eyeglasses or contacts
Hearing Devices and Prosthetics
Items such braces, casts, crutches, and splints
Massage and other paramedical services
Most parents buy Kids Insurance when they want coverage for services not included in their Provincial Health Care plan.
When we surveyed current Goose Kids Insurance policyholders, 40% of the parents surveyed had purchased Goose Kids Insurance for the Critical Illness coverage.
The Goose Kids Insurance policy includes $5,000 of critical illness coverage. This means that if your child is diagnosed with one of the covered eighteen illnesses including cancer and leukemia, your family receives a lump sum payment of $5,000 so you and your child can focus on recovery and not worry about paying bills.
Medical bills can be shocking, especially when traveling abroad. Kids Insurance from Goose comes with a travel medical component, which can come in handy for family vacations, school trips and/or when traveling for sporting events.
The travel medical component offers up to $200,000 of coverage when traveling outside of Canada or home province.
If your child is traveling on an international exchange program or is a frequent traveler to compete in sports, then this is the policy for your child and your peace of mind!
Depending on the province, the costs of riding in a land ambulance could be as high as $385 and not covered with your Provincial Health Plan. Taking an air ambulance on the other hand… could cost over $12,000!
Goose Kids Insurance covers the entire cost of an ambulance ride. This gives parents peace of mind knowing that their child will receive prompt and adequate transportation to the nearest medical facility if they are injured due to an accident.
Some costs of medical equipment and prosthetics are also covered. For example, the purchase of prosthetic devices or hearing aids is covered up to $5,500. Whereas the costs of medical appliances like tensor bandages, splints, boots, and other medical supplies are covered up to $1,500.
A majority of the parents surveyed were thinking about the financial costs they could protect their family from. Kids Insurance provides financial relief to families in the event of the worst-case scenario.
The coverages below can provide relief amounts of up to $350,000 in a tax-free payment.
Tutoring benefit – Covers costs of private tutoring when your child is recovering.
Fracture benefit – Lump sum payment for fracture or dislocation.
Loss of use of limbs – Lump sum payment for loss of use or loss of limb including eyes and eyesight.
Permanent Disability – Lump sum payment due to an accident.
Accidental Death – Lump sum payment for any death caused by accidents.
Broken glasses? Check. Chipped tooth? Check. Sport-related injury? Double check.
All of these little bumps and bruises are covered with Kids Insurance. Having a Kids Insurance policy is great for when your fearless kids return to school and/or participate in sports.
Kids Insurance also covers incidental expenses related to a hospital stay (in the form of “Hospital Cash”). As mentioned earlier, Kids Insurance also provides coverage where provincial health care plans do not. For example the cost of crutches, ambulance services, or rehabilitation services.
Kids Insurance is a great way to protect your children and family from the unexpected. At only $60 per year, your child gets extra coverage for accidents and critical illnesses. That’s just $5 a month… and officially now less than the cost of ice cream (thanks 2022 inflation).
Goose Kids Insurance is a great option if you and your family are looking for additional coverage to your Provincial Health Care plan.
The Goose Kids Insurance plan can be purchased in the Goose app in less than a minute. Just download the Goose App and create a free quote to get started!
Want to speak with a human? Our team can be reached at 1-888-374-6673 to answer any of your questions.