The financial futures of millions of British children are being left to chance because their parents are not taking out adequate life and critical illness insurance to protect their offspring if something should happen to them.
According to research carried out by life insurance provider Bright Grey, over seven million parents in the UK said that they did not have an insurance policy in place to protect their children from potential financial catastrophe in the event that they passed away or became critically ill . Also, more than 1.6 million British parents said they had never considered how their family would cope financially if they lost their income .
Roger Edwards, proposition director at Bright Grey said: "People don't want to think about the financial consequences of themselves or their partner not being around, but it is one of the most important areas of your finances to get right, especially if you have a dependent family. It is worrying that so many families admit to not having sufficient protection in place, but are doing very little to address this."




