Hero Dad: The importance of having life insurance

Some time ago I had a meeting with a financial adviser. At the time I didn’t have life insurance and hadn’t had any in place for quite some time. I knew this was a wrong that needed correcting and after making a few calculations, the financial adviser put forward a very strong argument for getting a policy in place as soon as possible.

Very matter of factly he said: “If you died, it would cost about £40,000 a year to replace you and hire people to handle the childcare and other work you do around the home.”

I was going to buy a life insurance policy anyway. If I had been wavering, however, that comment would probably have sealed the deal.

The uncomfortable truth is that I am not even the main earner in our household. My wife carries that responsibility. Nonetheless, I think that remark shows the importance of having a life insurance policy.

Hero Dad

Life insurance broker Protect Line is seeking to make more people aware of the importance of life insurance. It’s launched a Hero Dad campaign to do this and to make clear the fact life insurance can start from as little as £5 a month.

First of all, why Hero Dad? The idea is to encourage people to be a hero for their family and get a life insurance policy in place, something that is a selfless gift.

Why the focus on dads in particular? In reality, most households aren’t like mine, where dad stays at home and mum goes out and works full time. In many households, dad is the main earner, so the campaign aims to make people think about what might happen to their family and its finances if the main earner were to pass away. That could be mum or dad, but the campaign merely reflects the fact it’s usually dad. Mums are, of course, encouraged to explore Protect Line’s product offering.

As part of the campaign, Protect Line has produced a superb video. I’ve embedded it below so do take a moment to watch it.

It’s a charming story following how a dad and his son interact while playing. I won’t give too much away, suffice it to say that if you were this hapless dad, I think you would definitely be wanting life insurance. Few humans have driven cars over the edge of cliffs, jumped out of aircraft, visited space or battled with dinosaurs and lived to tell the tale.

About Protect Line

Protect Line has a very high rating on review website Trustpilot. If you were interested in taking out a policy, your first port of call may well be its newly-launched website.

The company’s process includes a phone call to answer any questions you may have. This also gives you the reassurance of dealing with a real person, not just making an online purchase. Protect Line stresses there is no pressure to take out a policy, that decision rests with you.

What is your situation?

I think life insurance policies are a bit like wills. Everybody knows they should have one in place, but not enough people actually have one in place.

While Hero Dad is focusing on the loss of a main earner, the tale I told at the beginning of this blog post shows how important it is for all parents to have life cover in place. Cover is important whether they are the main earner or otherwise.

This begs the question, do you have a life insurance policy in place? If not, have you thought about getting one and what is stopping you? Do leave a comment below or catch up with me on the usual social media channels where I can be found as @dadbloguk.

 

 

Disclosure: This commissioned article was produced in partnership with Protect Line.