MetLife UK has launched ChildShield, a standalone product that supports families should their child(ren) have an accident or become seriously ill.
According to MetLife, ChildShield, which was created with input from consumers and financial advisers, improves family safety by providing limitless claims coverage for all children up to the age of 23, including stepchildren and those who do not reside in the same household.
It provides financial security for parents who might need to take time off work owing to their child’s health, starting at £6 per month and covers mishaps, diseases, and serious conditions.
The two levels of coverage available to parents are Standard or Plus, with Plus providing twice the benefit at a marginally higher price. The Wellbeing Hub and MetLife’s Virtual GP (GP24) are also accessible to policyholders.
The gradual market rollout kicks off on August 31, 2023, with ten chosen distributors, and will expand by year’s end.
Dominic Grinstead, Managing Director at MetLife UK comments: “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.”
“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. And 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 per cent 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.”
LifeSearch CEO Debbie Kennedy says: “With ChildShield, MetLife has designed a product that truly meets the real need 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”.
