PROTECT YOUR CHILD FROM UNFORESEEN MEDICAL COSTS
Quick question: What’s the most expensive thing in your life? Many people would likely say it’s their house. However, it could very well be your kids that cost you more money than anything else. It’s said that it costs about a quarter of a million dollars to raise one child to age 18 in Canada.* Add another child or two, and you’re probably looking at closer to half a million or more. And that’s not including the costs associated with post-secondary education.
When it comes to college or university tuition, books, and potentially housing and food, many people plan ahead with an RESP or other savings or investments. But what about health care costs during those post-secondary years if your children choose a school out of province or even outside of Canada?
Our public health coverage is limited once we leave our home province, and even more so when we leave the country. What if your child needs medical help while they’re away at school? What if they simply need an eye exam so they can see the professor at the end of that huge lecture hall? Often students don’t have access to the kinds of funds required for, say, a stay in a U.S. hospital.
Fortunately, with Lawyers Financial Travel Insurance, you can have some help in putting many of those kinds of worries to rest. With the Student Plan, a wide range of your child’s medical expenses can be covered while they’re at school, including:
- Hospital expenses
- Physician services
- Diagnostic services
- Ambulance transportation
- Prescription drugs (up to a 30-day supply)
- Paramedical services, like licensed physiotherapists, chiropractors, podiatrists and more
- Emergency dental treatment
- Annual medical examination
- Annual eye examination
- Maternity benefit
Lawyers Financial offers three different Student Plans, depending on your family’s needs: one is for Canadian students studying out of province but still within their home and native land, one is for Canadian students studying outside of Canada, and the third is for students from another country studying in Canada.
Take advantage of affordable rates
With Lawyers Financial Travel Insurance, you can take advantage of 10% savings on regular rates. If your child is studying in Canada, outside your home province, you’d pay a mere $1.22 per day. For Canadian students studying abroad and non-Canadians studying in Canada, it’s just $2.43 per day. It’s a small price to pay for protection that can make your child’s life a lot easier, when it comes to medical costs that may pop up.
It’s easy and affordable to get covered
Before your child leaves for college or university, don’t forget to apply for the Lawyers Financial Travel Insurance Student Plan. It can help save a lot of money and a lot of worries if your child required medical care or even routine exams. Contact us today at 1-888-225-2421 or visit www.manulife.com/LF to learn more.
* Globalnews.ca, “How much does it cost to raise a kid in Canada?”, January 12, 2017.
1 United States Government Accountability Office, Ambulance Providers: Costs and Medicare Margins Varied Widely; Transports of
Beneficiaries Have Increased, 2012.
2 International Federation of Health Plans, 2015 Comparative Price Report, 2015.
3 Rate applies for ages 26-39, travelling 1-17 days with a Single-Trip Emergency Medical Plan.