In every household there is usually a very important person around whom everything revolves. From fending for everyone to giving every little helping hand at home, their relevance cannot be overemphasised. Yet we hardly value such people, until the day they are no longer around or even if they are, they are in such a capacity that they won’t be able to do all the kind things they used to do.
Often dads are found in this unenviable capacity. But the position of a bread winner transcends gender, in this era. Since the term means anyone who fends for everyone else in a household or family, a bread winner could be anyone. Yet this piece will, for the purpose of illustration, confine itself to addressing dads as bread winners.
It was ASDA Financial Services that recently raised the issue of taking Dads life insurance more seriously than we often do. Their argument was based on the study of the daily routines of family heads in which they found that most dads are being overworked. They perform, in addition to their normal employments, functions that range from DIY, helping with chores around the house, tending the garden, mowing the lawn, driving kids around when they visit friends or activities to even helping out with driving lessons etc.
With this workload, ASDA concluded that if they were paid they would earn up to £16,484 a year in addition to their main salary. This underscores the importance of bread winners, whose time is dedicated to serving their family and even earning income for them.
The big issue at this point is what will be the situation if there was no longer such person in the family? This is not impossible as death is sure to come someday or something terrible that could incapacitate the bread winner might happen. If any of these was to happen what will be the alternative source of livelihood for the survivors?
The best possible solution, ASDA said, is for families to take precaution long before such eventualities occur and prevent unnecessary sufferings for survivors. One of this is to make sure they take out life insurance cover for the dads in their midst and that will take care of their problem should things suddenly go wrong.
The policies could be as cheap as £10 per month or even less. Yet many people are not taking advantage of the numerous benefits.
But it is not the people that are entirely to blame. There have been controversies in recent times as experts within the industry complained that most of the policies do not pay as much as they collect from the policyholders.
If people don’t get the value for their money, which is the main objective of taking out the cover in the first place, then it is worthless. Perhaps this has been the main factor discouraging people.
If however this bread winner analogy is anything to go by, then those that have yet to consider purchasing life insurance policies for their bread winners need to rethink their position. Imagine losing someone dear, and in addition to the loss you are saddled with more responsibilities than you can cope with. Such experience can certainly be very overwhelming. However, working to prevent its occurrence is a crucial decision people need to take.
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