Would you take out insurance out to pay your salary in the eventuality your child is seriously ill or has an accident? It’s not the most comfortable parenting scenario to consider but niche insurance product ChildMax offers a potential lifeline when parents could need it the most. What’s more it’s affordable and available for self-employed parents.
Here’s how it works
ChildMax pays your salary for 12 months in the event one parent needs to take unpaid leave from a job or their own business to care for a sick child. It’s the kind of scenario we think can’t happen to us, until it happens to someone we know, then we start to think about the possibilities. This is where Insure With Max, the company behind ChildMax, have come to the market with a policy which makes financial sense in our view.
For example, a parent with 2 young children with a £1,800 take home salary per month would expect to pay £106.48 (inc. IPT) for the annual insurance policy. If 1 young child, then expect to pay £60 for £1,800 take home salary.
One less thing to worry about when a child is sick
When I first read about the product, all I could think about is how having this in place would mean the family could focus on care, without the worry of mortgage and bills. Not to mention the long-term impacts serious illness in the family could have on a career or business. Whilst it would be the last thing on my mind if one of my children fell ill or had an accident, at the same time, it would be a bitter blow for my career which I have worked hard to build up were to suffer too.
So if you are getting your household affairs in order, why not consider giving Insure With Max a call to find out more.
Follow them on Facebook watch their video which explains quickly and clearly more about the product. We also really liked Let’s Talk Mommy’s video blog on the topic, where she shares a personal experience and why this product spoke to her.
Disclaimer: this is an independent review with no paid links or editorial.