Juno introduces child disability insurance
Juno, a public benefit corporation, announced that it is the first company to provide child disability insurance in the US.
Offered through employers, Juno’s coverage provides parents cash payments and personalized support if their child develops a severe illness, disability, or injury. Parents can receive up to $1 million ($500k per qualifying child), paid in monthly installments for up to 10 years. The benefit covers children from birth to age 26 and can be used in any way a family chooses, including supplementing lost income, hiring specialized caregivers at home, or addressing medical costs not covered by health insurance. Juno also provides personalized support services to help families navigate the complexities of their child’s condition, access other available resources, and build a successful plan.
Juno distributes policies for an insurance company rated “A- Excellent” by A.M. Best, and policies are backed by four insurers/reinsurers, including AIG.
“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 co-founder and CEO Jordan Epstein.
“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.” – Juno co-founder Dr. Snaebjorn Gunnsteinsson.
