Juno, a public benefit corporation, is set to become the first company to provide child disability insurance in the United States.
The launch of Juno’s Child Disability Insurance marks a significant response to concerning statistics within the industry. With over 100,000 children in the United States developing serious illnesses or disabilities annually, and more than 2m already living with such conditions, there exists a pressing need for comprehensive coverage.
The initiative stems from recognising the substantial financial burdens faced by American families in these circumstances.
Co-founder and CEO of Juno, Jordan Epstein said, “While parents in many countries have a national safety net that provides life-changing financial support if their child becomes severely disabled, parents in the United States face the brunt of these costs alone, making child disability their largest uncovered financial risk. Juno is proud to fill this gap with a meaningful benefit that not only protects all working parents, but also helps employers show their values and attract and retain talent.”
Juno’s Child Disability Insurance offers unprecedented financial security and peace of mind to parents. With coverage of up to $1m per qualifying child, paid in monthly instalments over a span of 10 years, families gain flexibility in managing expenses related to medical treatments, caregiving, and other essential needs.
Moreover, Juno’s holistic approach includes personalised support services, assisting families in navigating the complexities of their child’s condition and accessing additional resources.
The launch of the offering marks a significant step towards addressing the financial challenges faced by American families. By providing comprehensive coverage and personalised support, Juno not only safeguards working parents but also enables employers to demonstrate their commitment to employee well-being and retention.
Juno co-founder Dr. Snaebjorn Gunnsteinsson, added, “After researching the needs of families of children with serious illness or disability for more than a decade, I know how transformative a benefit like Juno can be – especially for moms, who are about eight times more likely to be the primary caregiver and whose careers are most impacted when a child becomes disabled. Today, parents across America can wake up knowing there is a new kind of financial protection that provides much-needed support and flexibility. And forward-thinking companies can offer a new employee benefit that shows their commitment to health and gender equity.”
The firm notably stands at the forefront of innovation in insurance solutions, focusing on providing essential coverage for families. Founded with a mission to address critical gaps in financial protection, Juno aims to support parents through challenging times by offering comprehensive insurance solutions tailored to their needs.
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