Personal Accident Scheme
Cover for a child who sustains a serious injury whilst at school or participating in a school activity away from school.
The Personal Accident Scheme is underwritten by Equity Red Star at Lloyd's, an underwriting syndicate managed by Cox Syndicate Management Limited. For further information visit www.cox.co.uk.
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We all know that we live in a more dangerous world than our parents did, and our research has shown safety to be a fctor in choosing independent education for children.
However, accidents do happen in even the most carefully structured environments. In 2002, 360,000 children were injured in schools in the United Kingdom and 180,000 suffered an injury playing sport (source: Child Accident Prevention Trust).
This scheme is for those parents who want the security of knowing that, if something serious happened to their child, there would be enough cash to care for them properly. The money can never compensate, but it does help in a dreadful situation.
It covers all sorts of accidents: in cars, on bikes, playing sport, skiing, rock climbing, playing the tuba, whatever. It covers children 365 days a year, regardless of where they are.
Compensation Payments
The following is a list of injuries covered and the financial compensation your child would receive under this scheme should such an injury occur.
| Injury | Compensation |
|---|---|
| Permanent Total Disablement | £500,000 |
| Quadriplegia | £500,000 |
| Paraplegia | £250,000 |
| Loss of two limbs | £250,000 |
| Loss of two eyes | £250,000 |
| Loss of one limb | £125,000 |
| Total loss of hearing (both ears) | £125,000 |
| Total loss of speech | £125,000 |
| Total loss of hearing (one ear) | £50,000 |
| Removal of lower jaw by surgical operation | £75,000 |
| Shortening by at least 5 centimetres of lower limb | £37,500 |
| Facial Disfigurement | Up to £5,000 |
| Death (to pay for a suitable memorial | £7,500 |
| Loss by amputation or permanent total loss of use of right (if right handed) or left (if left handed). Amounts in brackets for the reverse. | |
| Shoulder or elbow | £62,500 (£50,000) |
| One thumb | £50,000 (£43,750) |
| One index finger | £37,500 (£31,250) |
| Permanent total loss of wrist | £50,000 (£37,500) |
| Any other finger | £25,000 (£18,750) |
| Loss by amputation or permanent total loss of use of: | |
| Hip, knee, ankle | £50,000 |
| One big toe | £25,000 |
| Any other toe | £7,500 |
Cost of cover per child per term: £7.50*
*IPT (Insurance Premium Tax) is included and currently levied at 5% in accordance with government legislation.
Key Facts
- The maximum amount that will be paid by the Insurer is £500,000 per child per accident.
- In the event that an accident involves multiple insured children, the maximum amount that will be paid by the Insurer is £10,000,000 per accident.
- If a child suffers a permanent disability which is not described in the previous table, the amount of compensation will be assessed relative to the injuries described in the policy.
- If compensation is claimed for the loss, or loss of use of, a whole member of the body, then it is not possible to claim compensation for the individual parts as well (e.g. fingers in addition to the whole arm).
- Facial Disfigurement is defined as permanent scarring affecting at least 20% of the facial area.
- This scheme is restricted to children at school in the United Kingdom . However, the cover is worldwide.
- Permanent Total Disablement is defined as “an inability to attend full time education due to a disabling accident for a period of 12 consecutive months and at the end of that period, he/she is beyond hope of improvement and without prospect of being able to undertake any gainful occupation or being able to support him/herself financially”.
- This scheme excludes an event leading to a claim caused by war or any act of terrorism.
The Personal Accident Scheme is established as a trust for the benefit of its members and its trustee us SFTS Trustees Limited. The Trustee collects contributions, and pays benefits to members. To enable the Trustee to pay benefits as they fall due, it has chosen to insure its liability to pay benefits with Equity Red Star at Lloyd's, an underwriting syndicate managed by Cox Syndicate Management Limited. Their website is www.cox.co.uk
Terms & Conditions
Click here to view the full Terms & Conditions for the Personal Accident Scheme.