Do you have life insurance for your family? New research shows a surprisingly low number of new parents have insurance…
New parents are spending more than ever preparing for their baby’s arrival, research* has revealed. According to the study, the average spend has increased more than 18% since 2012 and now stands at £1,645. However, the study also discovered that despite this increase, little more than a quarter of first-time parents (27%) have taken out life insurance.
Protecting your bundle of joy
Having a child is a life-changing responsibility and that many new parents are thinking about their child’s financial future early on, with nearly six in 10 parents-to-be (59%) having opened a savings account for their baby. But it seems that fewer people are considering what would happen if they could no longer provide for their child.
What if your family no longer had access to your income? With a new baby, it’s essential to ensure that you are financially protected, so that your little one would have a roof over their head if you were to die unexpectedly.
*Aviva, 2020
Get covered
If you’re not sure where to start, please get in touch. We aim to help you find the most suitable life insurance policy for your circumstances, giving you peace of mind. As experienced financial advisers, we will consider your individual needs and suggest a provider that meets your needs, objectives and budget. Consider a provider who can offer trusts at no additional cost and we will explain the advantages to you.
As well as life insurance, Clifford Osborne also offer a range of advice on pensions, investments, equity release, mortgages and more.
We are based in Eastbourne, East Sussex, but meet with clients (both online and in person) across the South East including Hastings, Lewes, Brighton, Bexhill, Uckfield, Heathfield, Newhaven, Seaford, Tunbridge Wells and further afield.
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The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated.
If you withdraw from an investment in the early years, you may not get back the full amount you invested. Changes in the rates of exchange may have an adverse effect on the value or price of an investment in sterling terms if it is denominated in a foreign currency. Taxation depends on individual circumstances as well as tax law and HMRC practice which can change.
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