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Every parent lives in dread of their child falling ill, or being badly injured.
According to 2014 figures from the Office for National Statistics, nearly eight million UK households include dependent children. The Royal Society for the Prevention of Accidents estimates more than two million children are injured in accidents in and around the home every single year, while Cancer Research UK says around 1 in 500 children in Great Britain will develop some form of cancer by the age of 14.
As horrifying as it is to contemplate your child joining these statistics, the reality is that it can happen to anyone, at any time. But, while you can’t always stop the bad things in life from happening, you can make sure you’re as prepared as possible if they do.
Max Robinson knows full well the impact that serious illness can have on a family; when his half-sister was born with a rare medical condition, his father, Malcolm, and stepmother were forced to give up work to be with her during numerous hospital visits. After a year the financial strain simply became too much; his stepmother was forced to return to work, while Malcolm became their daughter’s full time carer.
They quickly realised they weren’t alone – the majority of families they encountered in hospital were under the same financial pressures.
Coincidentally, Max ended up working in the insurance industry, but couldn’t forget about his father’s experience. In 2015 he used his skills and experience, and made the decision to create a brand-new insurance product – one that would offer vital protection to families without locking them in to a lifetime of repayments.
The ChildMax insurance policy is available to working parents who earn over £1000 per month. In the event that your child is diagnosed with one of the 12 childhood illnesses and seven medical conditions covered (you can check them, HERE) and your claim is approved, the policy will pay out between £1000 and £5000 per month for a maximum of 12 months. The premium you pay is calculated by the size of your usual take-home pay, and the number and age of your children, but starts at just 33 pence per day.
Of course there are similar products already out there – critical illness, for example – but the flexibility of ChildMax makes it unique. You can opt to stop working completely and take the maximum amount each month, or reduce your hours and allow the insurance to make up the difference. And, because CHILDMAX is an annual policy, you simply renew it each year rather than being locked in, like tradition life and critical illness insurances.
It’s flexibility and peace of mind when you need it the most.
ChildMax (www.insurewithmax.com) is underwritten by Ironshore Europe ltd. Your purchase is protected under the Financial Services Compensation Scheme (FSCS) and the Financial Ombudsman Service (FOS).