With the school summer holidays just getting started, many parents will be thinking of what to do to keep their children entertained over the summer months. Whether it’s taking time off work to spend time with them or getting them involved in summer activities, it’s important to remember that accidents can happen; and even more so at this time of year.
Research from MetLife, the protection and employee benefits provider, and the only stand-alone child protection policy provider in the UK, found that half (50%%) of parents have had to take time off work when their child has had an accident. This could result in them having to take a combination of annual leave, reduced pay or worst of all, unpaid time off work, in order to support their children. Coupled with additional expenses to factor in, such as hospital visits, extra medical costs, as well as everyday costs, this could create further financial concern.
Indeed, 14% have used annual leave to care for their child if they had an accident, 16% have taken unpaid leave, and 3% have used a combination of annual leave and unpaid time off.
While it’s important for children to enjoy their time over the summer, 49% of working parents do feel concerned over having to tell their employer if they need time off work to care for their child.
And there could be serious financial implications for nearly half, with 48%of working parents saying they do not have a savings pot set aside if this were to happen.
To support parents and help relieve some of the stresses they may have when it comes to the unexpected, MetLife UK provides ChildShield – the first product of its kind that supports families financially with a payout should their child(ren) have an accident or become seriously ill. It provides financial protection should parents need it. This includes situations such as having to take time off work to care for child(ren) – removing some of the stress and worry parents face.
Rich Horner, Head of Individual Protection at MetLife UK, comments: “Schools out for summer and that can only mean one thing, our children want and need to be entertained. Whether you’re taking them out, attending clubs or simply enjoying time with family or their friends, it’s prime time for a potential accident. And as parents, whilst we naturally worry about our children the reality is that despite best efforts, accidents and illnesses 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.
“Yet, a huge number of parents aren’t aware that products such as ChildShield exist, and while it’s encouraging that many protect themselves, they still don’t cover their children and protect their family finances in the event of not being able to work because of accidents or serious illness. We want summer to be memorable not medical, we want parents to say ‘yes’ to their children doing the things they want and love this summer – and while we can’t prevent illness and accidents from happening, we can help parents head into summer without the additional worry about finances should the “what ifs” happens.”
To also help alleviate some of the stress that comes with being a parent, ChildShield includes a Wellbeing Support Centre Hub and a virtual GP service (GP24) to offer support 365 days a year, 24/7. Parents also shouldn’t have to worry that they can’t get a GP appointment or prescription when it’s needed.
