"No parent wants to think about our children having accidents or being ill, but the reality is that despite our best efforts, accidents do happen."
- Dominic Grinstead, managing director at MetLife UK
The phased launch of MetLife UK’s ChildShield to the protection market was announced today, initially with a select group of ten distributors. The insurer hopes this exciting proposition will be widely available to the market by the end of the year.
ChildShield has been designed in consultation with financial advisers and customers to “complement” traditional protection products, enhancing family cover in hopes of closing the protection gap. This proposition covers all children in the family, until the age of 23 years old. This includes stepchildren and those who no longer live within the same household. There is no limit to the number of claims that can be made.
Recognising the challenges parents could face if their child(ren) were to have an accident or become seriously ill, ChildShield covers a range of accidents and illnesses from 24-hour care in hospitals to cancer/selected serious illness diagnoses. There are two levels of cover for parents to choose from: Standard or Plus. The coverage is the same, except ChildShield Plus pays double the benefit, at less than twice the cost.
In addition to financial support, ChildShield policyholders will also benefit from MetLife’s Virtual GP (GP24) and will have full access to its Wellbeing Hub.
Commenting on the launch, Dominic Grinstead, managing director at MetLife UK, has said:
“I am delighted to announce that we’re launching such a unique and innovative new product to the market. Our research shows there is a real gap in the market for ChildShield and at a time when many households are struggling financially, this provides highly affordable and valuable cover, which is very simple to take out.
“When children suffer something serious, we want parents to focus on being there in the moment your child needs you – not worrying about the financial impact. That’s why we have launched ChildShield. It offers flexible, affordable, peace of mind for modern family life.
“At MetLife we pride ourselves on how quickly we pay out to customers. We typically pay 90% of claims within five working days, which means our customers can focus on being there for their children during what is undoubtably already an unsettling and stressful time.”
As one of the launch distributors, Debbie Kennedy, CEO of LifeSearch, added:
“With ChildShield, MetLife has designed a product that truly meets the real needs of families. They have recognised that being able to support your child either for sickness or accident is a moment that matters.
“What I love about ChildShield is that it goes beyond the aches and breaks that children will suffer and provides mental health and wellbeing support 24/7, all year round. It’s accessible and available in the moment; products like these will bring new customers to Protection.”