London Office: 020 3755 3235 | Ipswich Office: 01473 384 858 | Email:
The Value of a Parent

Family Protection

It is hardly surprising, pure protection insurance is cheap (so the commission is poor), there is no benefit to the person purchasing (since they are protecting their dependents not them) and the best insurance is like household or car insurance i.e. if you don't claim you don't get anything back.

Read More   Get In Touch

The Value of a Parent

For anyone with dependents a rule of thumb should be that you are spending as much on your own protection as you are on the house and car. They are replaceable inanimate objects you are not.

For 30 years Legal and General have been calculating the value of a parent. This is an excellent piece of work which proves to the “doubting Thomas’s” why they need protection (Its also quite useful for parents to point out to their offspring the commitment they have given them!).

This years highlights are as follows:

• The value of a Mum is £31,627 per annum.
• The value of a Dad is £23,971 PA, which is 13% higher than in 2011.
• The day-to-day cost of raising a child to age of 18 is £154,440, which is 15% higher than in 2011.
• Less than a third of parents had any Critical Illness Cover (29%), Income Protection (14%) or Family Income Benefit (12%).
• Parents said they spend three times more on pocket money and treats each week than they do on insurance.

Clients can find a copy of the survey is on the client portal under the Individuals/Insurance sub directory, for others the research can be found at: Value Of A Parent Research 2015

If you or your children would like a protection review do please get in touch.


The latest news from Swallow Financial Planning and the financial industry

Financial Update April 2024 April 19, 2024

Financial update April 2024

Financial update April 2024 The tax year is at last at an end, and we can start to review an exciting election year!...

Opportunities and other budget ideas April 15, 2024

This spring budget raised a few eyebrows and more than a little fed into the Pet Shop Boys lyrics ‘Oh there’s a lot of opportunities if you know when...

St Patrick’s Day March 15, 2024

St. Patrick's Day and equity investing share parallels; luck perception, risk-taking, long-term focus, and diversification are key elements....

Swallow Financial Advice Newsletter

The latest news from Swallow Financial Planning and the financial industry