When you become parents, the very last thing that you want to think about is the possibility of your child becoming seriously ill or one day having to bury them. Some year’s ago, Max Robinson, a qualified insurance practitioner, watched in vain as his half-sister was born with a rare medical condition which meant she needed around the clock care until she passed away aged just 12 years old. Max’s father and stepmother had their world turned upside down as they not only had to cope with the turmoil and heartbreak of a poorly child but also trying to keep the household finances afloat with only one parent working. Over a period of 12 months, Max’s father and stepmother realised the best solution was for his father to become a full-time carer whilst his stepmother worked and became the breadwinner when really, she wanted to be at home with her daughter.
Insure With Max for Working Parents
Max was tasked by his father to come up with a form of insurance which would allow them to be with their daughter during these difficult times, without having to think about money. So, in 2015, Max created ChildMax, an annual insurance product for working parents which would allow the parent to take 12 months unpaid leave of absence from work following a child’s diagnosis during the policy period or in the following 10 months after the policy has expired. Once the claim has been agreed, InsureWithMax will pay the parents’ take home salary within 30 days.
What is covered?
There are 7 medical conditions covered by the policy: traumatic brain injury, loss of a hand or foot, paralysis of limbs, coma, third degree burns and blindness. It also covers 12 child illnesses; bacterial meningitis, aplastic anaemia, cancer, benign brain tumour, deafness, blindness, loss of hands or feet, kidney failure, major organ transplant, stroke, paralysis of limbs or multiple sclerosis.
Who can purchase ChildMax?
Parents who are UK residents and are employed, self-employed, a director or in a partnership. Children must be over 3 months or under 18 years and can be natural (biological), step (from marriage) or legally adopted. There are no questions asked about the health of the parent or intrusive lifestyle questions.
How long is the policy?
The policy is renewable annually. Parents can tailor their policy each year to allow for changes in their circumstances.
How much does it cost?
The annual premium is determined according to your annual take home salary and the number and age of your children. The single minimum premium is £49.50 (including IPT). Check out this useful Infographic to explain the buying process.
Is there any claim flexibility?
Yes. It is possible to return to work part-time, full-time or on a flexible basis in which case the policy will pay the shortfall between the insured take home salary and any lower earnings. Read this Claim Process infographic for further explanation.
Who is the insurer?
ChildMax is underwritten by Ironshore Europe Limited via its London Brand. Ironshore Europe Limited is authorised by the Central Bank of Ireland and subject to limited regulation by the Financial Conduct Authority.
Who is the distributor?
ChildMax is distributed by InsureWithMax.com which is operated by Questor insurance Services Limited who are authorised and regulated by the Financial Conduct Authority.
Join the Twitter Chat with Prizes to be won this Friday!!!
I expect this isn’t a subject which you would often find talked about on Twitter but this Friday that’s exactly what we are going to do. You wouldn’t go on holiday without taking out travel insurance would you? This doesn’t mean that you plan on having something bad happen during your holiday but it’s better to be covered. You don’t intend on having a car accident but you take out insurance for that too so why not protect yourself from the unthinkable – from not being able to care for your children during their darkest moments. Come along and join the conversation, there are prizes to be won!!