Why Life or Accident Insurance for Kids is a Necessity, Not an Option

Why Life or Accident Insurance for Kids is a Necessity, Not an Option

As parents, our number one priority is ensuring the safety and well-being of our children. We work tirelessly to provide for them, protect them, and secure their futures. But life is unpredictable, and as much as we’d like to believe “it won’t happen to us,” accidents and unforeseen events can disrupt even the most stable families.

The Reality of Childhood Accidents and Illness

In Canada, childhood accidents and illnesses are more common than many realize. In the 2018/19 fiscal year, there were 20,626 injury-related hospitalizations among children and youth aged 0 to 19, with 77% of these caused by unintentional injuries¹. Transport-related injuries alone accounted for nearly 71 per 100,000 children annually², and playground-related injuries had a rate of 266 per 100,000 children³.

Beyond accidents, serious illnesses also affect Canadian children. Respiratory Syncytial Virus (RSV) hospitalizes over 1% of infants under six months each year, with about 5% of those requiring intensive care⁴. From March 2020 to October 2021, there were 269 reported cases of Multisystem Inflammatory Syndrome in Children (MIS-C), a rare but severe condition linked to COVID-19⁵.

These numbers are more than statistics—they represent real families navigating medical emergencies, often with significant emotional and financial burdens.

Why Insurance Matters

While Canada has a strong public health system that covers many essential services, not everything is included. Prescription medications, dental and vision care, and long-term rehabilitation services are often not fully covered. Families either pay out of pocket or depend on private insurance.

Despite this, many families are unprepared. Relying on savings, credit cards, or crowdfunding platforms like GoFundMe is not a sustainable plan. While community support is admirable, there is no guarantee a campaign will reach its goal in time to provide adequate help.

This is where life and accident insurance for children becomes not just helpful but essential:

• Focus on Healing, Not Finances: Insurance gives families the freedom to prioritize recovery rather than worry about bills.

• Maintain Financial Stability: It can help cover hospital stays, specialist care, and even lost income if a parent needs time off work.

• Build a Foundation for Their Future: Some policies, like whole life insurance, accumulate cash value that can be used for future needs, such as education.

Taking Action for Peace of Mind

Getting accident or life insurance for children is often more affordable than people think. And it doesn’t have to stop with the kids—a comprehensive family plan can ensure everyone is protected. Consult with a licensed insurance advisor who can guide you to the best policy for your family’s unique needs and budget.

The Simple Process of Buying Life Insurance

Buying life insurance doesn’t have to be complicated:

1. Assess Your Needs: Think about debts, future expenses, and how much coverage your family would need.

2. Choose a Type of Policy:

• Term Life: Coverage for a specific period; generally more affordable.
• Permanent Life: Lifetime coverage with a savings component.

1. Get Quotes: Speak to an advisor and compare your options.

2. Submit an Application: Provide personal, health, and lifestyle details.

3. Complete a Medical Exam (if needed): Some policies require this; others are simplified.

4. Wait for Underwriting: The insurer will evaluate your risk.

5. Review the Offer: Understand the terms and premium.

6. Accept and Pay: Sign the policy and make your first payment.

7. Review Regularly: Keep your coverage up to date as your family grows.

Life and accident insurance for children is not about expecting the worst; it’s about being prepared for life’s uncertainties. With the right plan, you protect not only your child’s future but your family’s financial stability. You work hard to provide a good life for your children—make sure an unexpected event doesn’t take that away. The peace of mind it brings is invaluable.

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Footnotes

Sources:

1. Government of Canada. Health Promotion and Chronic Disease Prevention in Canada, 2023. https://www.canada.ca/en/public-health/services/reports-publications/health-promotion-chronic-disease-prevention-canada-research-policy-practice/vol-43-no-2-2023/injuries-canadian-children-youth-analysis-2019-canadian-health-survey-children-youth.html ↩

2. BMC Public Health. Transport-Related Injury Morbidity Among Canadian Children. https://bmcpublichealth.biomedcentral.com/articles/10.1186/s12889-018-6269-9 ↩

3. Canadian Public Health Association. Playground Injuries in Canada. https://www.cpha.ca/sites/default/files/uploads/resources/play/play_playground_injuries_e.pdf ↩

4. Government of Canada. RSV Burden of Disease. https://www.canada.ca/en/public-health/services/reports-publications/canada-communicable-disease-report-ccdr/monthly-issue/2024-50/issue-1-2-january-february-2024/burden-disease-rsv-infants-children-pregnant-women-persons.html ↩

5. National Library of Medicine. MIS-C in Canadian Children. https://pmc.ncbi.nlm.nih.gov/articles/PMC8896683/ ↩

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Last modified: April 15, 2025