"As it’s different, this has challenged us to adapt our processes and for us to think and behave a little differently."
- Paula Bertram, Chief Operating Officer at LifeSearch
Launched in August 2023, ChildShield has been introduced as a “standalone product that supports families if their child(ren) were to have an accident or become seriously ill.” Initially, MetLife UK launched ChildShield with a select group of ten distributors (including LifeSearch) to become widely available to the market by the end of the year.
READ MORE: MetLife UK announce launch of ChildShield
Protection Reporter spoke with Emma Astley, Founder of CoverMyBubble Ltd, about ChildShield and whether more providers should launch standalone children’s cover in the future. Within ten days of the launch, CoverMyBubble sold 79 policies: “It doesn’t take parents long to realise if they lost their income, they don’t have anything to protect their kids if they were to break a bone or needed to spend time in hospital,” Emma explained.
“My clients were all like ‘omg, we need this,’ especially considering the price, what it covers, the flexibility; there are so many ticks for parents.”
Parents can either opt for ChildShield Standard (£6) or Plus (£11) to run alongside any Life, Critical Illness (CI), and/or Income Protection (IP) policies they have in place. In doing so, their children are insured for broken bones, hospitalisation, and seven serious illnesses: bacterial meningitis, type 1 diabetes, rheumatic fever, burns, cancer, paralysis, and benign brain tumour.
Although most of Emma’s clients have purchased ChildShield Plus, she said they’re happy having the choice between two products, “because even £100 can help a parent if they have to take a couple of days off to look after their child.”
“So many families have had kids hospitalised, so they’ve purchased ChildShield to protect against future scenarios after the twelve-month deferral period.”
While discussing added-value services, Emma emphasised that the virtual GP service was unlimited. “We’ve been tagged in so many posts where clients have struggled to get a GP appointment or they’ve had trouble with 111; they want them and they will pay more for it because they know the value of having a GP on hand as well as mental health support,” she said.
LifeSearch has now reviewed and adapted its advice process to incorporate ChildShield, reports Money Marketing.
“As advocates for our customers, we continue to challenge and collaborate with insurers to help develop contemporary protection solutions that respond to the evolving needs and demands of today’s consumers,” explained Paula Bertram, Chief Operating Officer (COO) at LifeSearch.
She said: “MetLife has purposefully sought to build an innovative product that is designed from first principles to protect children. We’ve been impressed by the simplicity, benefits, and value of ChildShield, so much so that our Searchers voted it ‘Best Innovation’ at our LifeSearch Awards in April 2024.”
Dominic Grinstead, CEO of MetLife UK, added “We strive to provide new innovative products in a typically traditional industry. We have a longstanding relationship with LifeSearch and it is a pleasure to have our latest ChildShield feature on their protection advice process, adding to a range of protection solutions available to brokers and their customers.
“Protection needs are ever-changing amongst consumers and so having solutions like our ChildShield proposition available to LifeSearch means their advisers have the right products to offer and meet the needs of their customers,” he concluded.
