The interesting statistics- Brand-new parent and life policy

It has come to our knowledge that brand new parents in the United Kingdom, do spend beyond 492 million pounds per annum to prepare for their very first child, but the shocking part of it is; only 1 in 5 have in possession the life policy according to the new figures by a research group, Aviva. Over £492 million is usually budgeted for basic child items, for instance, the baby cots, clothes, car seats and so much more.

The research unearths a part of new individuals in parenting, who are maximizing the risks of their children in terms of financial security by simply not enrolling for a life policy plan.

Have you reviewed your protection needs?

Currently, one parent in a group of five is said to have obtained a life cover or just considered reviewing the needs related to protection. First-time parents are said to be most likely to kick off with an account for their baby savings with only 2 out of 5, that is, 38 per cent commenting that they had already embarked on the steps.

Figures went on to reveal that, about 2 out 3 (64 per cent) of households in the United Kingdom, have no single Life Insurance policy and that a family has in possession 2,773 pounds savings that would only run out, after 60 days, on average.

Peace of Mind Knowing you’re protected

Brand-new parents should not only think of spoiling their first babies with lavish products but should also not forget about putting up plans for the unpredicted. Therefore, a life insurance cover should be seen as a financial benefit so much essential like the baby wears or cots, for it’s all designed to shield your dear baby’s future. Expecting a baby soon? Avoid spending finances on items you need not or you will never make use of. Do invest in a policy which in turn, turns to be helpful.

We would recommend you to talk to one of our advisers for life insurance quotes.
Any quote that your adviser provides you with will take into account your circumstances, your medical history, as well as your budget!
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