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Your Money > Insurance Articles > Aviva offers free...
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By Yahoo!
In order to qualify for the offer, parents with newborns need to register before the child reaches six months of age. In a statement Aviva said the offer was designed to help people start thinking about their protection needs to help safeguard the financial future of their families. The offer expires on the child's first birthday - by which time the company hopes parents will have been convinced of the need for taking out life insurance. "Although this is a fraction of the cover a family needs, the offer recognises that new parents do not always consider, or have the time to purchase, family protection when they have a young baby," the company said in a statement. The insurer claims that three million families are putting their children in financial peril by not taking out cover. Research by the company found that almost 40 per cent of parents have no life insurance cover, while 17 per cent only have enough to cover their mortgage. Most alarmingly of all, however, 175,000 families do not know if they are covered in the event of a parent's death. The company estimates that the total "protection gap" is worth a staggering £2.3 trillion. Louise Colley, head of protection at UK Life, Aviva, says: "The birth of a new baby is an ideal time to begin thinking about family life insurance needs. Unfortunately this rarely happens. "Life insurance isn't just something you put in place to protect your mortgage, but something you should arrange to provide financial security for your children." The offer can be arranged either directly via the website, by phone on 0800 046 6446, or through a financial adviser. Useful links: |
The largest insurer in the UK, 
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