- Are you the main breadwinner?
- How would you manage to maintain your standard of living in the event of an accident or illness?
- How would you feel to be unable to provide for your loved ones at a time when they need it the most?
A recent survey from LV has shown that the cost of raising a child has increased to £231,843 – making it more expensive than the average house and shows a huge increase of over 65% since the report began in 2003.
The research also shows the costs of raising a child now takes up more than a third (38%) of the average UK household’s net income and six in ten parents (59%) admit they’re struggling to manage their outgoings.
However half of all parents have no financial protection in place!
Only one in 10 (11%) workers in the UK are covered by an income protection policy, a valuable plan which could provide parents with the financial safety net they need to keep the family afloat.
Call our advisers on 0800 612 8099 or click here to discuss what you can do to protect your family.
*Source LV Cost of a Child 2016