Is child insurance mandatory?
Child insurance is not mandatory in Finland, but it can be very useful. Child insurance is a voluntary insurance that provides financial security in case a child gets sick or has an accident. It can cover, for example, medical expenses, medicines, therapies and possible hospital treatments. In this article, we discuss in more detail what child insurance is, why it can be useful, and what things should be taken into account when purchasing insurance.
What does child insurance cover?
The coverage of child insurance varies by insurance company, but usually it includes the following areas:
- Medical costs: The insurance can cover doctor visits, tests, surgeries and other medical costs.
- Drugs: The insurance can cover prescription drugs and other necessary drugs.
- Therapies: Physiotherapy, speech therapy and other rehabilitation services may be covered by the insurance.
- Hospital treatment: The insurance may cover the costs of hospital treatment, including per diems and possible additional costs.
- Accidents: The insurance can cover treatment costs caused by accidents and possible permanent harm.
Why can child insurance be useful?
Although child insurance is not mandatory, it can provide significant financial security and peace of mind for parents. Here are some reasons why child insurance can be useful:
- Faster treatment: Private health care can be faster than public, and insurance can allow faster access to treatment.
- Broader coverage: The insurance can cover such treatments and medicines that public healthcare does not necessarily cover.
- Financial security: Insurance can help cover unexpected and large medical expenses, which can be a significant relief to the family’s finances.
- Peace of mind: Insurance can offer parents peace of mind, knowing that there is financial security in case their child gets sick or has an accident.
What to consider when purchasing child insurance?
When you are considering getting child insurance, it is important to compare the offers and coverages of different insurance companies. Here are some things to consider:
- Coverage: Make sure the insurance covers all necessary treatments and services.
- Deductible: Check how big the deductible is and how it affects the total costs.
- Price: Compare insurance prices and think about what best fits your family’s budget.
- Exclusions: Read the insurance terms and conditions carefully and check which things are excluded from the scope of the insurance.
- Customer service: Find out what kind of customer service the insurance company offers and how easy it is to contact them if necessary.
In summary, it can be stated that child insurance is not mandatory, but it can provide significant financial security and peace of mind for parents. It is important to compare offers from different insurance companies and choose the type of insurance that best meets your family’s needs. You can find more information about child insurance, for example, on Finanssiala.
