4 million don't have life cover

 

4 MILLION DON'T HAVE LIFE COVER
Article date: 25/07/2005 : 15:31:11

According to research, around four million parents don't have life cover.

Although premiums can start relatively cheaply, research based on data from Consumer Intelligence shows that many parents do not have a policy.

Many parents do have an alternative to life insurance. However, Sainsbury's Bank is urging these parents to consider taking out a life policy as the cost of bringing up a child can often be underestimated.

Sainsbury's Bank highlights the fact that parents can spend as much as £50,000 on a child during its first five years.

David Picket, life insurance manager at Sainsbury's Bank, said: "Life insurance can provide great peace of mind in the knowledge that your dependents would receive a cash lump sum if you were to die.

"Once you know what your requirements are, there's nothing to stop you shopping around on the cost to make sure you’re not paying too much for your peace of mind."
 
 
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