"We will always fear them getting hurt and nothing can change that, but freeing ourselves of any financial worry can be."
- Phil Jeynes, head of individual protection at MetLife UK
Of those surveyed (2,027), 24% said watching their child(ren) take up a risky hobby is a ‘big moment’. Parents also highlighted watching them take part in sport (32%), learning to drive (48%), and going away without them for the first time (62%) as big moments.
However, MetLife UK reports that parents fearing the consequences of riskier activities could be holding them back from encouraging these defining moments.
Almost a third (31%) feel guilty that they can’t always be there for their child(ren) when sick or injured due to work commitments.
18% said they can’t afford the loss of income from taking time off work, with 27% worried about keeping up with everyday expenses and household bills.
“Our children’s safety is paramount yet watching them take on something that carries an element of risk, from rock climbing, to football, their first concert, or simply learning to ride a bike, is often when we feel most proud.
“Childhood is about freedom and growing as a person, and it’s only by taking risks that children learn their own boundaries. It’s vital that nothing holds us back from encouraging our children in those moments,” explained Phil Jeynes, head of individual protection at MetLife UK.
He said: “But as a parent myself, I can say ‘It’s scary!’ Of course, we will always fear them getting hurt and nothing can change that, but freeing ourselves of any financial worry can be.
“A child getting injured can quickly trigger a host of additional cost challenges, with many finding it stressful to maintain regular bills and outgoings, especially if extended time off work is needed to care for them.”
Earlier this year, MetLife UK found 35% of parents worry about the impact caring for a sick or injured child will have on their career progression, and a similar percentage (34%) of mothers fear their employer’s reaction.
READ MORE: MetLife UK caregiving responsibility research backed by Paula Radcliffe MBE
If parents need to take extended leave to care for a sick or injured child, then as many as three in four (77%) working parents would be at financial risk.
“While our research positively showed that nearly a quarter (23%) of parents have an emergency fund for if they need to take time off work to care for a loved one – that still leaves a large majority at risk,” Phil concluded.
