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Affordable annual insurance for working parents

March 2, 2016

A pledge to my father – create a new affordable annual insurance for working parents to protect their take home salary in the event of their child being critically ill or injured.

Max Robinson saw his father, Malcolm, divorce and re-marry and start a second family. His father and step mother were not prepared when Max’s half-sister was born with serious medical complications. During the years of treatment, his father met other parents living with critically ill children.

Although the NHS provides world-class medical care, parents become part of the care team 24/7; this can reduce earnings leading to family hardship.

Affordable annual insurance for working parents

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With ChildMax, you’ll be able to give your child the time they need during both the medical crisis and the recovery period. ChildMax will reimburse your take home salary for 12 months while on unpaid leave caring for your child. The claim payments made by the insurer are tax-free.

The pledge to his father was only possible, as Max a professionally qualified insurance practitioner with 29 years’ had the experience and confidence to develop a new insurance product for working parents. Max did extensive market research in 2015; the level of initial appeal to ChildMax was strong with nearly half the market finding it very appealing.

ChildMax is easy to understand insurance that is renewed annually through www.insurewithmax.com for parents who are either employed, self-employed or a director.

Parents can insure either biological, step or adopted children from 3 months to 18 years old. There is flexibility in the choice of take home salary that can be insured, ranging £1,000 and up to a maximum of £5,000 per month. The actual premium is calculated on the size of the take home salary, the number and age of the children. There is a £120 (incl. IPT) minimum premium for a 12-month policy.

Following the child’s diagnosis of a specified illness or specific medical condition from an accident, the parent can elect to take up to 12-month unpaid leave of absence from work at any time during the policy period, or in the following 10 months after the policy expires. Knowing that parents have different work patterns, ChildMax offers claim flexibility, allowing the parent to choose to return on a full-time, part-time or other flexible basis. The policy will pay any shortfall each month in the take home salary.

The policy covers 7 medical conditions: coma, traumatic brain injury, loss of a hand or foot, blindness, third-degree burns, deafness and paralysis of limbs. It also covers 12 illnesses: a plastic anaemia, benign brain tumour, bacterial meningitis, cancer, blindness, deafness, kidney failure, loss of a hand or foot, major organ transplant, multiple sclerosis, paralysis of limbs and stroke.

5 reasons for buying ChildMax:

  1. Pay take home salary within 30 days of the claim being agreed.
  2. Take 12 months unpaid leave from work to care for a sick child.
  3. Affordable and easy to buy on-line or via a UK call centre
  4. Built from personal experience of seeing a sick child.
  5. The sale is regulated by the FCA (Financial Conduct Authority) and part of FSCS (Financial Services Compensation Scheme) and the FOS (Financial Ombudsman’s Service).

For more information visit www.insurewithmax.com or telephone the UK team on 0333 323 0098.

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