As a record 435,430** students head off to university for the first time, internal data from MetLife reveals that more than half (52%) of MultiProtect policyholders have added children to their protection insurance to give themselves greater peace of mind.
When asked what concerns them most, respondents overwhelmingly said the health of their children (67%) and their partner (70%). In fact, parents were found to stress more about the health of their children and partner than themselves; just half (50%) worried about themselves having an accident and 44% worried about social care and health costs.
The COVID-19 pandemic has had a significant impact on young people’s mental health creating a rise amongst young adults aged 17-22 with the figure now at 20% experiencing at least one mental disorder.*** University can be a big period of change so providing access to wellbeing support is critical. To help offer parents peace of mind as their children leave home, MetLife offers MultiProtect.
Purchased via a financial adviser, MultiProtect gives flexible, cost-effective cover for a range of specified accidental injuries and UK hospital stays from just £8 per unit per month. Policyholders can claim for multiple injuries and the policy continues allowing multiple claims to be made. Child Cover is one of the three optional cover options from just £1 per unit per month and offers a wide range of benefits including cancer cover and provides protection for children up to 18 years, or up to 23 years if the child is in full-time education such as University. The policy also provides policyholders and their dependants free and unlimited access to a Wellbeing Support Centre. An online portal and telephone helpline is available 24/7 and provides independent and confidential access to a wealth of expert resources, covering issues such as health and wellbeing, emotional support, family issues and bereavement and probate.
Stuart Lewis, Head of Claims at MetLife UK, comments: “Going to university is a big occasion for many young people. Likely to be the first time they’ve lived outside of the family home and had to look after themselves. While you can’t wrap your child up in cotton wool, having a protection policy in place that covers you and your children while they are in full time education can help to reduce worries and ensure they have the support they need at any time of day.
“This year to date we have paid over £1 million in child claims****. University offers students an opportunity to play the sport they love at both competitive and social levels. The child cover includes protection for accidental injuries from a huge number of sports, and our data shows some of the highest causes of claim are sport related.
From broken bones to hospital stays, parents can be safe in the knowledge that financial support is available should they need it and can be claimed on for multiple injuries throughout the time students are on the policy. Plus, the Wellbeing support centre provides an additional layer of support to help them cope with the everyday challenges and helping to prevent these becoming a bigger concern over time.”
PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.
