Dad with three children

4.5 Million dads don’t have life insurance

According to research from Scottish Widows more than 58% of men in the UK with dependent children have no life insurance.

A staggering number considering the implications of not having life insurance should something happen to you.

The survey also found that 20% of dads admitted that their households would not survive financially if they lost their income due to long-term illness.

“Many fathers don’t consider having insurance as a necessity, with 16% of those without saying they don’t see critical illness cover as a financial priority, and 20% saying they don’t think they need it,” said Gary Burchett, protection director at Scottish Widows.

However, the value of protection and peace of mind should something go wrong is invaluable.

Due to recent changes to bereavement benefits and the continued unavailability of those benefits to those in cohabiting relationships dads need to be aware of their protection needs and seek advice to make sure their household is covered.

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