Tuesday, March 9, 2021
  • Contact
  • Privacy Policy
  • Terms & Conditions
Trends Wide
  • Home
  • News
  • Business
  • Lifestyle
  • Trending
  • Australia
  • Deals
  • Cryptocurrency
No Result
View All Result
Trends Wide
Home Uncategorized

One third spend £10,000 supporting others

souhaib by souhaib
September 29, 2020
in Uncategorized
0
493
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter


One third spend £10,000 supporting others

By This Is Money
Updated: 11:08 BST, 15 April 2011

 

Over 15m adults in Britain spend up to two-fifths of their salary financially providing for others – but the majority do not have life cover.

Helping hand: One third of us spend £10,000 a year supporting others, but most leave their dependants under protected

The average earner’s salary is currently £26,510 and research from the life insurance providers, Scottish Provident, has found that 31% of the current UK adult population (over 15m) are spending on average £10,339, a year financially supporting their dependants.

Related posts

Pfizer says it expects data on COVID-19 vaccines for children in ‘early part of 2021’

February 11, 2021

John Oliver on the new 'Last Week Tonight' season and if Trump was good for comedy

February 11, 2021

But less than half of those who are financially responsible for others, be they children, parents, siblings, or a partner, have any form of life cover in place.

That 45% leave their loved ones uncovered if the worst happens.

Susan Barclay, of Scottish Provident said: ‘They could be seriously risking their financial security as well as that of their dependants.

‘With such a high proportion of an earner’s gross income spent on those that they care for, it is vital that financial providers are protected so their dependants also have a robust financial safety net in place’.

The increase in workers financially supporting across generations whilst juggling their own bills, led Scottish Provident to urge more people to get life cover.

Ms Barclay said: ‘There has been a rise in recent times of what is dubbed the ‘sandwich generation’ – people who have both children and elderly parents financially reliant on them. Even children who have flown the nest may still need provision when it comes to accommodation and tuition fees, while they may also be paying nursing home fees for their parents and juggling their own bills’.

Those considering life cover and unsure of what is best for them are advised to take the time to speak to an independent financial advisor IFA to evaluate what best suits their personal financial situation and protect their household accordingly.

Essential reading: How to really get the cheapest life cover

Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.



Source link

Tags: dailymail moneyusa today money
Next Post

LaMelo Ball dismisses LaVar Ball's comments about best fit for him in NBA

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Ajax goalkeeper Andre Onana ‘wanted to take a penalty’ to score in the 13-0 crushing of VVV-Venlo

4 months ago

DAN HODGES: Deal? No Deal? It really doesn’t matter now. All that counts is Boris must end it TODAY

3 months ago

Australians are amazed to find the ‘miracle’ fly banishing trick works 

3 months ago

Six Nations 2021: England & Wales search for style in silence

1 week ago

BROWSE BY CATEGORIES

  • Australia
  • Cryptocurrency
  • Culture
  • Deals
  • Discounts
  • Economie
  • Euro
  • Gaming
  • Lifestyle
  • News
  • Opinion
  • Sports
  • Switzerland
  • Trending
  • Uncategorized

BROWSE BY TOPICS

2018 League abc Australia Bali United bbc bbc health Budget Travel Champions League Chopper Bike cnn ar business dailymail dailymail australia dailymail heath dailymail money dailymail sport day 7 euronews Health https://lenews.ch/feed/ IGN Istana Negara Market Stories National Exam rt arabic usa today usa today money usa today sport Visit Bali Women Fashion

POPULAR NEWS

  • Watch .. Lebanese astronomer Michel Hayek reveals his predictions for the year 2021

    1141 shares
    Share 456 Tweet 285
  • Help save a local business

    1006 shares
    Share 402 Tweet 252
  • Love Insurance

    978 shares
    Share 391 Tweet 245
  • 5 places to visit in Microsoft Flight Simulator 2020.

    872 shares
    Share 349 Tweet 218
  • Reece Parkinson: A shock diagnosis won’t stop me running

    737 shares
    Share 295 Tweet 184

Recent News

  • Jarryd Hayne retrial: Footy star only stopped alleged sexual assault when blood flowed, jury hears
  • Brazil: A judge cancels the convictions of former president Lula da Silva
  • Former Kangaroo Majak Daw given chance to continue AFL career with Demons rookie spot

Category

  • Australia
  • Cryptocurrency
  • Culture
  • Deals
  • Discounts
  • Economie
  • Euro
  • Gaming
  • Lifestyle
  • News
  • Opinion
  • Sports
  • Switzerland
  • Trending
  • Uncategorized

Recent News

Jarryd Hayne retrial: Footy star only stopped alleged sexual assault when blood flowed, jury hears

March 9, 2021

Brazil: A judge cancels the convictions of former president Lula da Silva

March 9, 2021
  • Contact
  • Privacy Policy
  • Terms & Conditions

© 2021 - TrendsWide

No Result
View All Result
  • Home
  • News
  • Business
  • Culture
  • National
  • Sports
  • Lifestyle
  • Opinion

© 2021 - TrendsWide