The value of a parent - Legal & General
The value of a parent - Legal & General
The value of a parent - Legal & General
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10<br />
the cost <strong>of</strong> raising children – VALUE OF A PARENT 2013 Research<br />
COST OF RAISING A CHILD PER YEAR<br />
<strong>The</strong> cost <strong>of</strong> raising a child to 18<br />
is £154,440 – Up 15% from 2011.<br />
£10,000<br />
Value<br />
£8,000<br />
£6,000<br />
£5,408<br />
£5,928<br />
£6,864<br />
£7,436<br />
£8,580<br />
£4,000<br />
£2,000<br />
£2,756<br />
0<br />
2001<br />
2004<br />
2005<br />
2009<br />
2011<br />
2013<br />
Spend per year<br />
<strong>The</strong> day-to-day cost <strong>of</strong> raising a child is now £8,580 a year,<br />
which is more than three times higher than when the research<br />
was carried out in 2001.<br />
Opportunity<br />
Our research has found that the average day-to-day cost<br />
<strong>of</strong> raising a child is £8,580 per year. If your client has no<br />
protection cover in place, could they afford these costs<br />
should they or their partner die or be unable to work<br />
due to long term sickness, injury or a critical illness?<br />
Would they have to make cutbacks to their lifestyle?
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