Life is full of ups and downs. We never know quite what’s going to happen from one year to the next, which is why it’s so important to plan ahead whenever you can.
Helping your partner cope financially
It’s hard to talk about it, but if you die or become critically ill, then your partner would probably still have all the regular household expenses to think about.
- Without you around, do you think your partner would have to give up work?
- How would your partner cope financially - how long would the money last?
- Do you have young children at home, or teenagers who are off to university soon?
- If you became critically ill and were unable to work, how much money would you and your family need?
Helping to protect your children's future
Last year, we asked 2,002 parents to share their views on what it costs to raise children today. On top of all the usual household bills, our research showed that parents are spending an additional £7,026 a year or £585 a month on raising their little ones until they reach five years old - and that may be a lot of money to find if you’re suddenly on your own or if there is only one income coming into the household.
The cost of childcare was one of the biggest concerns: the parents we spoke to were, on average, spending around £1,140 a year, or £95 a month. But that’s infant childcare – how about the support your children need if they’re at college or you’re hoping they’ll go to University?
Helping to protect your home
It’s sensible to protect the things you’ve worked hard for in life. Quite often the property you live in is one of the biggest investments you’ll ever make – so, hopefully, it’s a natural step to consider protecting it: so your family may have fewer concerns in the future, if something untoward happens to you.
Our homes are where we see our children grow up. They may leave the nest, come home from college, and even bring the grandchildren to visit – but ‘home’ is what matters most to many families. It’s important to protect that home, and with it, your mortgage.
You can find out more about the life insurance and the critical illness cover we offer by clicking on the links below.