Aviva offers free life cover to new parents

Britain's parents were today given a helping hand by Aviva - with a new offer providing £10,000 worth of free life cover for new parents in the UK.

Research released by Aviva's UK Life business today suggests that over half of parents in the UK would leave their dependent children with little or no financial protection in the event of a parent's death. Almost 40% of parents polled have not bought life insurance cover, with a further 17% of those polled only having sufficient life insurance cover to repay their mortgage.

The Aviva Parents Study reveals an alarming gap in both cover and awareness amongst parents:

Over half of families (56%) with dependent age children, do not have cover that would provide a lump sum for their families if the worst were to happen.

Almost 40% parents polled have not bought life insurance cover and a further 17% only have enough to cover their mortgage.

175,000 families have no idea if they are covered or not.

Having a child is a key event in anyone's life, but arranging life insurance does not always top the to-do list. Now, under the Aviva initiative, each parent who applies before their baby is six months old, will receive £10,000 worth of cover at no cost to them, to run up to and including the child's first birthday.

Louise Colley, Head of Protection at UK Life, Aviva, says: "For many, life insurance is a box they tick when they buy their first home and then forget about - our

"Anyone, like me, who is a parent knows only too well that the first 12 months can be really tough, as well as incredibly rewarding. We're going the extra mile with this free cover because we believe it's absolutely essential that new parents consider how they best protect their new family."

Although the offer is a fraction of the cover a family needs, the offer recognises that new parents do not always consider, or have the time to purchase, family protection when they have a young baby. This offer seeks to remind parents of the importance of financial protection for their family, so they can do something about it as soon as they have the time. Whilst the offer is aimed at new parents, Aviva will be using this initiative to raise awareness with all parents about the need to plan financial protection for their families.

The Aviva Parent Study also revealed:

One fifth (18%) of parents polled admitted they had simply not gotten round to buying life insurance.

Over two million families worry about their level of life insurance protection

Nearly one in ten (8%) have not taken out life insurance because they find it too complicated and confusing

65% of cash strapped new parents believe it's a product outside their financial means

New parents can register for the offer from Sunday 12th July online by visiting aviva.co.uk