Research has revealed that new parents are spending more than ever preparing for the arrival of their baby. According to the study, the average spend now stands at a sizable £1,645, an increase of more than 18% over the last eight years. Many new parents are thinking about their child's financial future, with almost 60% opening a savings account for their newborn.
A life changing responsibilty
Whilst parents-to-be are focused on the joyful preparations, unfortunately these measures do not always extend to their protection planning. The study highlights a concerning statistic, just over a quarter (27%) of first-time parents have taken out life insurance, leaving a massive 73% without cover. It seems the vast majority of people aren't 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, as will any dependants, it's essential to ensure that you are financially protected, so that your little one would have a roof over their head if the unexpected were to happen.
A top priority
Get in touch, we can help you find the most suitable life insurance policy for your circumstances, giving you peace of mind.
As with all insurance policies, conditions and exclusions will apply
We can help you!
At Simmonds Mortgage Services we can help you find the best life insurance policy for you and your circumstance, contact us today - 01344 225 149 or 07979 690 056. Alternatively please send us an email at email@example.com
Simmonds Mortgage Services is an appointed representative of Stonebridge Mortgage Solutions Ltd and can source the most appropriate cover from its panel of insurers with a free review of you overall protection and insurance needs. As with all insurance policies, conditions and exclusions will apply.