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Life Insurance Tips For New Parents

Becoming a parent is an important time to consider life insurance, or to assess whether your existing cover is sufficient.

When you have children, the financial consequences of one parent dying are likely to be severe. Indeed, the cost of raising a child in the UK stacks up to a whopping £230,000.

That’s why setting up a life insurance policy should be near the top of prospective or new parents’ to-do lists.

Costs for new parents to consider;

A life insurance policy would be able to pay out a lump sum to the surviving spouse if a family breadwinner were to die. In many cases, for example, this could make the difference between being able to stay in the family home, and having to sell up and move to cheaper accommodation.

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