Every kid gets an 'owie' once in a while — and usually it's no big deal, just a normal consequence of being active, curious and involved.
But there's always a chance your child could have a more significant accident during the course of their active lifestyle.
Student accident insurance provides 24-hour coverage for medical, dental, disability and accidental dismemberment/death for students participating in any school activities.
Plans can also be expanded to include 24-hour coverage wherever your child is — at home, at play, or even on vacation. Coverage for such expenses as private tutoring, eye glasses and much more can also be included.
Student accident insurance is usually available for any child over six months of age who is enrolled fulltime in kindergarten, elementary or secondary school, college or university or is registered in daycare, playschool or preschool. Children who are home schooled in a provincially-approved curriculum are also eligible for this type of insurance.
Your school may offer student accident insurance. It is also available from many insurance companies.
Student accident insurance is typically inexpensive yet can provide your family with some protection against those always unexpected accidents. In addition, you may want to consider children's critical illness insurance for those far more serious concerns.
Your professional adviser can help you decide how student accident insurance — and children's critical illness insurance — fit with your existing insurance coverage and your overall financial plan.
J. Kevin Dobbelsteyn is a certified financial planner with Investors Group Financial Services Inc. His column appears every Wednesday.