It’s something that none of us want to think about, but as soon as your family expands and you welcome a baby, the future takes on another perspective. You now have to consider what to do should tragedy strike, in order to protect your family.
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25% of first-time expectant mums said they’d be forced to sell the family home should their partner die
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50% of expectant first-time mums said they have no life protection
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Almost a third (31%) said they would need to ask family for financial help
A quarter of first-time expectant mums would need to sell the family home if their partner died, an NFU Mutual survey has found.
The financial services company polled more than 1,000 online readers of Mother&Baby.
The survey found that half of first-time expectant mums (50%) don’t have a life insurance policy and if their partner died they would need to borrow money from family. A small number (3%) said they would take out a loan.
Sean McCann, Chartered Financial Planner at NFU Mutual said: “It is essential to make sure the family is protected financially; people see the value in insuring their houses, cars and pets, but are less likely to insure the family income, leaving them vulnerable.”
Do you know how you and your family would cope should the worst happen, and you or your partner passed away?