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Children’s Insurance Option

This option is only available with Income Protection Insurance. You only have this cover if we accepted your application and it is shown in your Policy Schedule.

1. What is Children’s Insurance?

Children’s Insurance provides a benefit in the event of Accidental Death, or injury or illness resulting in Paralysis, Blindness, Deafness, Total & Permanent Loss of Use of Two Limbs, Encephalitis, Meningitis or Major Head Trauma of an Insured Child under the Policy.

2. Children’s Insurance eligibility

You can apply for this Insurance cover for a child of yours (and/or of a Partner Life Insured) if the child is aged between 2 and 17 years of age, and the child is an Australian Resident.

3. Children’s Insurance Benefit Amount

You can apply for an Insurance Benefit Amount from $20,000 up to a maximum of $50,000 for each Insured Child under the Policy (in increments of $10,000).

4. Children’s Insurance benefit payment

We will pay the benefits explained below if the Insured Child of a Life Insured suffers an insured event; namely Accidental Death, or injury or illness resulting in Paralysis, Blindness, Deafness, Total & Permanent Loss of Use of Two Limbs, Encephalitis, Meningitis or Major Head Trauma while covered under the Policy except in the circumstances explained in “Children’s Insurance exclusions”.

Accidental Death

We will pay the Children’s Insurance Benefit Amount as a lump sum in the case of Accidental Death of the Insured Child.

Serious injury or illness

We will pay the Children’s Insurance Benefit Amount as a lump sum in the event of injury or illness resulting in Paralysis, Blindness, Deafness, Total & Permanent Loss of Use of Two Limbs, Encephalitis, Meningitis or Major Head Trauma occurring to the Insured Child, providing the Insured Child survives for fourteen (14) days after the day the injury occurs or illness is contracted except in the circumstances explained in “Children’s Insurance exclusions”. The injury or illness condition must be diagnosed by a Medical Practitioner and confirmed by our medical advisers.

Limit on benefits

Only one Benefit Amount is payable per Insured Child. The total benefit payable cannot exceed $50,000 for each Insured Child, plus any automatic sum insured increases.

If the Insured Child is covered for Children’s Insurance under more than one Guardian Life Insurance Policy, we will apply this limit to the total of the Children’s Insurance Benefit Amounts payable for the Insured Child under all Guardian Life Insurance policies. Any reduction in the Children’s Insurance Benefit Amount will be applied to the Children’s Insurance most recently commenced and we will refund the premiums paid referable to the amount by which the Children’s Insurance Benefit Amount is reduced.

5. Children’s Insurance premiums

The premium you are required to pay for this option when the Policy starts is shown in your Policy schedule. The premium is calculated at each Policy Anniversary and is based on the Benefit Amount provided for each Insured Child.

For a quote you should contact a Guardian Insurance Consultant on 1300 709 560.

6. Children’s Insurance exclusions

We will not pay a Benefit Amount if the Insured Child suffers an injury or illness resulting in Paralysis, Blindness, Deafness, Total & Permanent Loss of Use of Two Limbs, Encephalitis, Meningitis or Major Head Trauma directly or indirectly as a result of:

  • a Congenital Condition;
  • the intentional act of the Policyowner or person who will otherwise be entitled to all or part of the Benefit Amount; or
  • an injury which occurs or an illness which becomes apparent, before the Children’s Insurance Acceptance Date in respect of an Insured Child or during the first three (3) months after the Children’s Insurance Acceptance Date, or reinstatement date. We will pay for any new and unrelated occurrence of injury or illness resulting in Paralysis, Blindness, Deafness, Total & Permanent Loss of Use of Two Limbs, Encephalitis, Meningitis or Major Head Trauma after this three (3) month period.

7. Children’s Insurance start and end

If your application for Children’s Insurance is accepted by us, cover starts for an Insured Child on the Children’s Insurance Acceptance Date set out in the Policy Schedule.

The Children’s Insurance ends for an Insured Child when the first of the following occurs:

  • the date of death of the Insured Child;
  • the date of payment of a Children’s Insurance Benefit Amount for the Insured Child;
  • the date you cancel the Policy;
  • the date we cancel the Policy;
  • the date you cancel this cover; or
  • the Policy Anniversary following the attainment of age 21 by the Insured Child.
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