Self-employed? Is your family exposed?

New research has shown that millions of self-employed people are leaving their families financially exposed. Over recent years, the number of people who are self-employed has increased significantly; with nearly five million of us working for ourselves (Source: ONS). But it seems most are making no provision should they be unable to work due to illness, a decision which could have catastrophic consequences for their loved ones. The research, from Scottish Widows, found that: Only 7% of self-employed people have Critical Illness Cover to protect them, and their family, if they become ...

Protection: Only 25% of families are covered if the worst happens

Only 25% of families are protected if the worst happensThe number of parents who have adequate protection should they die or become seriously ill is falling to dangerously low levels. Parents with dependent children have a number of options to ensure their family can cope financially in the event of serious illness or death; these include Life Cover, Critical Illness Cover and Income Replacement, also known as Permanent Health Insurance of PHI. However the research from Scottish Widows shows that the number of adults protecting their family is falling: Only 24% of adults ...

Protection: Is there really any excuse for being a parent and having no life cover?

iStock_000016395581SmallMost parents would agree that having children has changed their perspective on life. It also changes our financial priorities; no longer do we just have ourselves to look after, our children will be financially dependent on us for many years to come. Why then do so many parents put the financial future of their children at risk, by not putting plans in place to provide much needed security in the event that one, or both, parents die. Over 50% of parents have no Life Cover A recent survey by Legal & General revealed the ...

Savings: Do you save more or less than the average family?

iStock_000007329749MediumMost people like to know how they compare to others, so when it comes to saving money each month, do you put away more or less than the average amount? Legal & General have surveyed 625 families all with children under the age of 10 for their ‘Nearest and dearest families facing tomorrow’ report. The results make fascinating reading:   Our advisers can help you get your savings working harder ...