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Life Insurance News
Dads 'need life insurance' - 18/06/2007
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Fathers should consider life insurance, according to advice from one pensions provider.
Friends Provident has suggested that patriarchs take out life insurance to offer their families financial protection should unforeseen circumstances arise.
According to the firm, the DIY and domestic tasks carried out by handy dads save the typical household an average £12,914.
Over £5,000 of this goes towards DIY jobs, while fathers provide a further £1,996.80 in taxi duties and £546.78 in gardening projects.
"You can't put a price on a dad's love but you can put a price on the work he does," said Mark Jones, protection and actuarial manager at Friends Provident, suggesting that families would suffer financially if a dad was unable to work.
"Without a regular wage coming in they would certainly struggle," he added. "They need to consider what they would do if dad was no longer working and protect themselves from the unexpected."
Meanwhile, figures from Sainsbury's Bank recently revealed that the life insurance gap in the UK currently stands at £2.3 trillion.
© Adfero
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