Why a Father Needs Life Insurance
Have you ever given any thought as to how much you are worth to your family? Most people have no idea exactly what they save their family in terms of money, attention and care. Fathers alone are worth their weight in gold according to a recent study. It determined that they actually saved the household £21,000 over the course of a year in chores around the house, DIY jobs and childcare. That is not including their wage or salary but in addition to it so you can see how the money soon adds up. You would otherwise have to pay for childcare, a handyman, tradespeople and all sorts of other services that you currently have no need to pay for. So what would happen if the father in the household died or became critically ill? Well, a major struggle to make ends meet would occur unless you had life insurance in place.
According to the survey, just 64% of fathers in the UK today have life insurance, whether through work or a personal policy, and just 30% have critical illness cover so if they were diagnosed with cancer or another illness that is considered to be critical their salary would be lost with nothing to replace it. Can you imagine how your household would get by without that particular deficit? Many would get into debt today or struggle to pay all the bills. As such, every single father should consider getting life insurance and critical illness cover today. Not being able to provide for a family is bad enough but seeing them struggle when you are ill or knowing that you are leaving them in the lurch is worse.
A range of life insurance providers can be accessed via the comparison engine on Sun Alliance so you can find cover to suit you and your wallet.