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.
When a baby arrives on the scene, mum and dad have a huge amount to worry about. It’s quite understandable, especially if it’s their first child.
A few years ago, my mother told me she worries about my brothers and I more now we’re adults than she did when we were kids. As adults, the money troubles, relationship troubles and issues with our own children trump any concerns she had for us when we were youngsters and her concerns prove that once a parent, you are forever a parent.
Here’s another fantastic guest post from Julie Hutchison of Standard Life’s moneyplusblog. This time Julie tackles the thorny issue of stay at home parents and life insurance. It rasies a very important question; what exactly would happen if the kids’ main carer were to pass away uninsured? How would the partner left behind continue to make the household run
It’s nice when things are taken care of for you, isn’t it?
When you’re employed, your employer may offer a benefits package which has some features to help your loved ones. A so-called ‘death-in-service’ lump sum payment may be a key financial benefit in the background, which pays out a figure calculated as a multiple of your salary eg. four times. View Post