Mums want to help their children but few have life insurance

By Jonathan Dawes, Thu 12 May 2011 - Published in Insurance

Almost half of mums do not have life insurance yet many want to help their children pay for university, cars and house deposits in the future, according to research from Confused.com.

Its report found that 60 per cent of mothers in the UK want to help their children pay for the cost of spiralling tuition fees.

Furthermore, over half want to help their little ones pay for a deposit on a house, and 50 per cent want to help pay for the insurance on their son or daughter's first car.

Matthew Lloyd, head of life insurance at Confused.com, said: "It's not at all surprising that mums want to help their children reach landmark goals, but it is a real worry that they don't have any life insurance cover in place to safeguard them should the worst happen."

Recently, Nationwide revealed that just under of half of parents have no life insurance policy, and mums have less cover than dads.

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