The lifestyle of our loved ones may be seriously compromised if we die. However, very worryingly, more than 2.4 million cohabiting families across the UK – the fastest-growing family type in the country – do not have life insurance, potentially leaving their loved ones open to financial problems once they pass away, according to new analysis.
Dads putting their family’s financial security at risk if the unexpected were to happen
What would happen to you and your family in the event of unforeseen circumstances, such as the diagnosis of a serious illness or premature death? Worryingly, research from Scottish Widows reveals that more than half (53%) of men in the UK with dependent children have no life cover, meaning that 3.9 million dads are potentially putting their family’s financial security at risk if the unexpected were to happen.
Millions of Britons face financial fallout should serious illness strike
It’s easy to think that we will never be diagnosed with a critical illness, particularly when we feel healthy and energetic, but we can fall ill with very little warning. A critical illness can have a serious impact not only on our life, but also on the lives of your children, spouse or partner. So it’s important to make sure that you financially protect yourself and your family.
What you have and what you want to happen to it