Watching your child take up a risky hobby is a big moment, according to a quarter (24%) of UK parents. Other core “biggest parent moments” include seeing a child taking part in sport (32%), learning to drive (48%) and going away without you for the first time (62%). But research from MetLife UK suggests that fear of the consequences of riskier activities could be holding parents back from encouraging these defining moments.
Almost a third (31%) of parents said they feel guilty that they can’t always be there for their children when they are ill or injured, due to work commitments, and almost one in five (18%) said they can’t take time off when their children are ill or injured, as they can’t afford the loss of income. Financial consequences drive a number of these concerns about unexpected accidents or illness, with more than a quarter (27%) concerned about being able to keep up with everyday expenses and household bills when their child(ren) is / are ill or injured.
Putting protection in place can free parents from worry, helping them enjoy key moments in their children’s lives rather than worrying about any potential financial consequences. For almost one in ten (8%), seeing their child conquer their biggest fear is a huge memory, making it important that nothing stops them from encouraging children to take calculated risks.
Phil Jeynes, Head of Individual Protection, MetLife UK commented: “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 school trip away, concert, or simply mastering bike riding, 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. So, it’s vital that nothing holds us back from encouraging our children in those moments.
“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. While our research positively showed that nearly a quarter (23%) of UK parents do 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. Greater awareness and understanding of the cover available for working parents, can them understand that an affordable safety net is possible. And leaves us all free to enjoy those life moments with our families”
It’s not just accidents that can have financial implications for parents. British marathon champion and former world record holder, Paula Radcliffe MBE, found herself having to step away from competing and punditry when her daughter, Isla, faced a rare form of ovarian cancer at just 13 years old. Paula and her family needed to manage multiple stays in the hospital with Isla, and she is now urging parents to seriously consider getting protection to ease any financial strain if the unexpected happens. In her case, with the right cover, she could have received £12,500 from a MetLife ChildShield Plus policy.
ChildShield provides financial protection should parents need it – for situations such as having to take time off work to care for their child(ren) – removing some of the stress and worry parents face were their child to become seriously ill or have an accident. A single ChildShield policy (from £6 a month) covers all children in the family up to 23 years old – including stepchildren and children who no longer live within the same household. Families can also access a virtual GP appointment service (GP24) included, free of charge, which provides them fast and direct access to medical experts – including unlimited consultations with UK-based remote GPs available to book any time, day, or night, 365 days a year.
