New parents are spending more than ever preparing for their baby’s arrival, research5 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 a concerning fact: despite this increase in spending, little more than a quarter (27%) of first-time parents have taken out life insurance.
Protecting your bundle of joy
Having a child is a life-changing responsibility and it appears 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.
If you’re not sure where to start, get in touch, we aim to help you find the most suitable life insurance policy for your circumstances, giving you ultimate peace of mind.