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New parents advised to consider financial future of dependants

Gillian Cooper
Insurance news
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Splashing out on babywear, nappies and prams is deemed more important by new parents than protecting their offspring financially.
That’s according to new figures from Aviva, who claim just 20% of couples use the milestone to take out life insurance or review existing policies.
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Instead, they splurge an average of £1,619 on cots, car seats and other baby paraphernalia, with 60% retrospectively admitting some of the purchases are unnecessary.

The statistics follow recent research from the Post Office, which found that three out of five UK adults (58%) currently have no life insurance.

Comprehensive life cover protects dependants financially in the event of a policyholder’s death.

https://www.healthinsurancedaily.com/health-insurance/product-area/life-critical-illness/article440449.ece

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