NEOS Child Cover

Child Cover provides a lump sum payment if the insured child dies, is diagnosed with a terminal illness or suffers a critical illness. It provides financial support to help a family concentrate on what’s important.


Minimum entry age


Maximum entry age


Benefit expiry age

Plan anniversary after the child insured turns 19

Minimum sum insured that can be applied for


Maximum sum insured that can be applied for


Premium types

Stepped premium (currently, the same premium rate applies across all ages)

Funding options

Child Cover is only available outside of superannuation

Product structure combination

Child Cover can only be applied for in conjunction with Life, TPD or Critical Illness Cover for an adult

Key benefits

Child Cover includes the below key benefits and valuable features.

All Child Cover benefits and features are subject to the full terms and conditions outlined within the NEOS Protection Product Disclosure Statement

Death benefit

Provides a one-off, lump sum payment, if the insured child dies.

Terminal illness benefit

Provides a one-off, lump sum payment, if the insured child is diagnosed with a terminal illness.

Critical illness benefit

Provides a one-off, lump sum payment, if the insured child suffers a listed critical illness.

Funeral advancement benefit

Provides a portion of the death benefit before a full claim has been assessed, to help with urgent costs such as a funeral.

Valuable features

Grief support benefit

If paid a Child Cover benefit, we’ll reimburse up to $1,000 for the cost of grief counselling sessions.

Continuation of cover benefit

If the insured adult dies or cover ends for any reason, the insured child’s other parent or guardian may continue the Child Cover by moving the Child Cover under their own NEOS Protection plan.

Conversion of Child Cover benefit

When the insured child approaches the expiry age for Child Cover, they have the option of converting their existing cover to Life Cover without having to reapply or supply medical evidence to us.

Indexation benefit

To help ensure cover keeps pace with the cost of living and maintains real value, we automatically increase the Child Cover sum insured each year by the higher of 5% or the percentage increase in the Consumer Price Index.

Accommodation benefit

We’ll reimburse an immediate family member’s accommodation costs by up to $250.00 per day if the insured child is confined to bed and a family member has travelled to be with them.

Suspending cover benefit

Suspend Child Cover for up to 12 months if the insured adult is experiencing financial hardship.