An expert in life insurance has encourage families struggling financially to consider extending their life insurance to protect their children, should the worst happen.
Confused.com, an online insurance comparison provider revealed that just 52 per cent of those mums they surveyed had life insurance in place to protect their children, with 48% choosing not to take any cover.
Further statistics revealed that 60 per cent of all parents in the UK have decided they would like to be able to help their children pay for the increasing costs of university.
Matthew Lloyd from confused.com has asked how they expect to be able to do this without life cover, should something happen to the parent.
Lloyd is head of Life Insurance at the firm and said, Life insurance and critical illness policies can also offer many additional valuable features for families that can be accessed at any time during the life of the policy.”