Market Watch: Industrial-Alliance Child Life & Health Duo

  • Child Life & Health Duo

Industrial Alliance

No doubt there isn’t anything in your power you wouldn’t do to ensure your child’s safety and wellbeing. Despite not being able to protect them from all of life’s up and downs, some insurers have come to market with products which may act as a safety net specifically designed for your child’s changing needs. Industrial-Alliance’s Child Life & Health Duo will take advantage of your child’s youth and vitality, and provide a unique coverage for both you and your child.


Child Life & Health Duo is designed to be a simple and thorough solution to meet you and your child’s specific needs.  It is what is known as a hybrid product that combines whole life insurance  combined with critical illness insurance.


The whole life insurance has a quick payment option that will be fully paid when your child reaches age 30.  It also comes with a guarantee that he can increase his coverage when he becomes an adult without having to provide evidence of insurability.


What makes this product unique is that it also provides a critical illness benefit in the event your child is stricken with any one of the 32 covered critical illnesses and conditions, a benefit equivalent to half of the life insurance coverage will be paid to you.  You can take an unpaid leave of absence and stay by your child’s side during this difficult time in their life, and even use the money to pay for specialized treatment.


Should a critical illness benefit be paid, the life insurance portion of their coverage will continue.


The plan has some great features which make it unique in the marketplace and extremely flexible:

  1. If your child demonstrates healthy life habits (eg. is a non-smoker) he may benefit from an automatic 40% increase in his coverage without additional fees or increase in premiums.
  2. The guaranteed insurability benefit ensures that at specific turning points in your child’s life, such as marriage, graduation, birth of a child, that they will be able to increase their insurance coverage without evidence of insurability.
  3. Before age 30 your child could purchase critical illness coverage which covers him for his entire life, again without evidence of insurability.


In addition to the standard 25 illnesses covered by the critical illness portion of your child’s plan, there are also child illnesses which are uniquely covered by this plan.  Autism, which nowadays occurs in 1 out of 88 children, is covered if the diagnosis of your child is done prior to age 3.  For a full description of all the covered illnesses contact one of our advisors.

If you have any questions about this article or would like the assistance of one of our licensed professionals, please call us at 1.416.759.5453 or email us at


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