Critical illness packages could be 'key' for family

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Critical illness packages could be 'key' for family

Mon 18th Jun 2007

With Father's Day having just gone, Friends Provident is urging families to acknowledge the financial security that most Dads provide.

Notwithstanding their day-to-day jobs, the group estimates that fathers save a family some £12,914 by carrying out various duties.

Friends Provident estimates that over £5,000 is saved by the head of the family acting as a handyman and doing jobs around the house.

With fathers generally providing such an important role in the family, research carried out indicates that some 54 per cent appreciate the importance of countering against unforeseeable circumstances and has some form of life insurance, critical illness cover or income protection.

Friends Provident provide life insurance deals from as little as £5 each month and they could also protect an annual income of £24,000 for £18.69 per month.

Mark Jones, protection and actuarial manager at Friends Provident, said: "You can't put a price on a dad's love but you can put a price on the work he does."

He added: "A family often see dad as just the breadwinner or walking cash machine, but if dad were unable to work a family would soon realise that money doesn't grow on trees."

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