Life insurance is not something any family or parent wants to think about having to utilise, but it is really important that we all have something in place, should the worst happen. The last thing anyone needs is financial stress and burden after the horrific pain of losing a child or having to give up work to care for a sick child.
To help families understand the importance of insurance, Pure Cover have produced a couple of infographics to highlight how insurance protects us when we’re at our most vulnerable. Some of the statistics are worrying – according to their research, Pure Cover discovered that a massive 66% of individuals have zero financial support in place to cover them in the event that caring for an unwell child led to loss of earnings. As parents, it’s quite easy to imagine that this is a scenario that could happen at any given moment. How terrifying, then, to be completely financially unprepared for it.
Personally, I haven’t thought much about life insurance in the past, it has always been something on the horizon that I intend to address in the future, when it is more relevant. But when can be more relevant than now, while my children are still dependent on me?
Travel insurance is something else a great many of us tend not to bother with, with 9.9 million of us travelling abroad last year without any cover. I know I’m guilty of this and usually just hope for the best, which is a silly attitude, really. Yes, insurance is another outlay when planning a holiday but, frankly, it’s a lot less than it would cost to get treated in another country, and who can guarantee that there won’t be an accident or medical emergency during their time away? Not one of us, sadly.
Do you have insurance? What are your tips on finding the best deals?