The dictionary describes a father as:
- A male parent
- A man who exercises paternal care over other persons
But what is a father really? The obvious thoughts are breadwinner and provider but perhaps that’s more the role dads see themselves performing. Through the child’s eyes dad is the hero, teacher, confidante, and playmate. The one who mends the broken toy, asks about their day, helps with their homework, teaches them to ride a bike, plays football, has a pillow fight, or reads them a story. Quite a hero!
Dads will say one of their main roles is the protector and they’ll do this in many ways; child-proofing the home, teaching kids how to cross a road, making sure they use a car seat, etc. All of these are vital to a child’s well-being but financial protection is vitally important too: how many dads have life insurance, critical illness cover, income protection, or a will? They need it, because the unexpected can happen…
Every 22 minutes a child in the UK loses a parent(1) . That’s around 111 every day. Yet, shockingly, of all families with dependent children only 46% have Life Cover, only 18% have Critical Illness cover and only 13% have Income Protection(2) . Dad could go from hero to zero in a stroke. Literally!
Nothing will replace dad in the eyes of the child but financial support, when everything else is sad and scary, will make an enormous difference, maintaining some sort of normality in a topsy turvy world. For mum, it’ll ensure that emotional stress isn’t accompanied by financial strain.
Have you spoken to all your ‘dad’ clients about family protection? Have you given them the chance to say ‘no’? If not, why not?
A 35 year old dad can provide £100,000 of Life or earlier Critical Illness Cover for less than £1 per day(3) depending on the plan benefits.
With millions of kids giving their dad a card and present on 16th June, talk to your dad clients and make sure they give their children a present too – some financial security should anything unseen happen to their hero.
Happy Father’s Day!
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For protection queries contact Steve Berry, Protection Manager at Steve.email@example.com.
- 1. Source: https://www.childbereavementuk.org/death-bereavement-statistics
- 2. Source: Aviva Protecting Our Families Report March 2017 https://www.aviva.com/newsroom/public-policy-items/protecting-our-families-report-march-2017/
- 3. Source: Panel quotes from iPipeline as of 17/04/2019 based on a male non-smoker, born on 01/01/1984, employed with an annual income of £50,000