Common medical insurance fallacy: Do children need critical illness protection?
01 Jan 2024

Do children need critical illness protection?

As parents, we always want our children to grow up healthy and happy, and to ensure this, insurance is a great way to protect them from illness and accidents. However, do children really need to go the extra mile of critical illness protection? Such protection are usually reserved for those in the later stages at life, you may be swayed to think that it can wait until your child is older. Here we examine if purchasing critical illness protection for children is a wise choice.

Is the prevalence of serious illnesses in children so low that they do not need to be protected?

Many people think that the chance of children developing serious illnesses is lower than that of adults. However, this is not the case. According to the Hong Kong Children's Diabetes Association, about 7 children are diagnosed with diabetes each month1. The rate of children suffering from diabetes also rose 12 times within the recent 10 years2. Information from the Children's Cancer Fund also pointed out that cancer is the second killer of children over the age of one, second only to accidents and poisoning. There are about 170 to 180 child cancer cases each year in Hong Kong. Among them, the most common case is leukemia. Fortunately, the cure rate for children is as high as 80%3. Although medical expenses can be very high, parents can greatly reduce the burden through critical illness insurance. Kawasaki disease is another serious disease unique to children. According to the Hospital Authority’s figures, there are more than 100 cases in Hong Kong each year4.

Currently, many children's critical illness insurance plans offer the same coverage as adult plans, protecting them from conditions such as heart disease, encephalitis, and cancer. Additionally, they will also cover high-risk diseases in children, such as Kawasaki disease, which occurs most often in newborn babies to children of five years of age. Other more common child illnesses including severe asthma, rheumatic heart valve disease, severe hemophilia A and hemophilia B, and Steele Disease (systemic disease, child with spontaneous arthritis), plus many more will all be covered.

In addition to covering children’s serious illnesses, there are two major added benefits for subscribing to critical illness insurance:

Coverage and savings

For some critical illness insurance plans, besides offering critical illness coverage and life insurance, it also includes cash payback value as well. After reaching a certain age, children who are healthy will receive a cash bonus. Affording them protection from critical illness, life insurance and a head start with their saving plan.

Enjoy peace of mind

Parents always want their children to stay healthy. They should note that many critical illness insurance plans have a waiting period. Therefore, it’s better to subscribe to a critical illness insurance plan as early as possible, so that both the parents and children can get comprehensive protection early. If the unexpected strikes, the parents can be given better financial support to give their children the best treatment possible.

Article source link: GoBear

1Wen Wei Po (10 November, 2012) Retrieved from:

2Apple Daily (8 April, 2016) Retrieved from:

3Apple Daily (15 February, 2013) Retrieved from:

4Hospital Authority (14 April, 2018) Retrieved from: