P542 Teletext 545 Oct 2 21:01:32       ——————————————————————————    WHY HOMEMAKERS NEED INSURING TOO Think of insurance in the context of the family and protecting the income earner against illness, redundancy or even death usually springs to mind. But in many families with children, take mother out of the equation because of serious illness or an accident and problems really begin. Of course it might just as easily be a father who is the homemaker. Whoever it is, replacing him or her is expensive. ——————————————————————————————————9/10— by Nick Hudson YOU COULD GET MORE FOR YOUR POLICY WITH S.E.C. SEE p626 Advice Property Savings City
P542 Teletext 545 Oct 2 21:05:01       ——————————————————————————    WHY HOMEMAKERS NEED INSURING TOO The financial worth of a homemaker is colossal — health care group BUPA says running a home costs £21,000 a year. Every year, thousands of people are faced with the nightmare of trying to juggle jobs, run the home and look after the children when their partner is taken seriously ill. The financial consequences of a partner being unable to perform f—x-tomd—| duties can be devastating. ——————————————————————————————————2/10— WIN a video recorder 465 ANY PURPOSE LOANS - SEE PAGE 627 OR CALL WILMSLOW FREE ON 0800 269315 Advice Property Savings City
P542 Teletext 545 Oct 2 21:00:00       ——————————————————————————    WHY HOMEMAKERS NEED INSURING TOO David White, of the Friendly Society Tunbridge Wells Equitable, says time and again families are caught out by failing to recognise the risks. "Many families insure the breadwinner against the financial effects of sickness or injury but overlook the extra cost of having to pay for help with the housekeeping duties. "People asspld friends and family will help, but this is not always possible." ——————————————————————————————————3/10— Advice Clinic 543 Borrowing 547 SWITCH TO p628 AND YOU COULD SAVE ON YOUR MORTGAGE Advice Property Savings City
P542 Teletext 541 Oct 2 21:00:50       ——————————————————————————    WHY HOMEMAKERS NEED INSURING TOO In his experience, David White, of Tunbridge Wells Equitable, says people tend not to stop and think what would happen if the mother became ill. "People need to ask themselves, if the homemaker became ill or had an accident who would give the kids breakfast, take them to school, pick them up, give them tea, cook the ldals and shop? "Illness or accidents can happen to any of us at any time." ——————————————————————————————————4/10— WIN a video recorder 465 BUSINESS BRIEFING ON OUR WEB SITE GO TO: www.teletext.co.uk Advice Property Savings City
P542 Teletext 543 Oct 2 21:01:02       ——————————————————————————    WHY HOMEMAKERS NEED INSURING TOO Andrew Cowan, of Edinburgh-based independent financial adviser Aitchison & Colegrave, believes a lhnimum £100,000 cover is needed for a mother. "Child minding can cost anything from £10,000 a year upwards and £100,000 cover would produce an income of at least £8,000 a year. "I have seen the l—ssive havoc and genuine financial difficulties families get into when the mother falls ill." ——————————————————————————————————5/10— Mortgages 545 Savings 546 POPULAR SHARE CHECK p519 Advice Property Savings City
P542 Teletext 541 Oct 2 21:01:01       ——————————————————————————    WHY HOMEMAKERS NEED INSURING TOO Andrew Cowan, of IFA Aitchison & Colegrave, says breadwinners must look closely at several insurance options: Critical illness cover for themselves and non-earning partner for £100,000 up to retirement. Mortgages also need protecting as part of the cover. Whole-of-life cover which pays out on the first partner to die. ——————————————————————————————————6/10— Advice Clinic 543 Borrowing 547 CITY NEWS p500 Advice Property Savings City
P542 Teletext 541 Oct 2 21:00:00       ——————————————————————————    WHY HOMEMAKERS NEED INSURING TOO So what are the costs of m—king sure the house is run and the children are looked after if illness strikes? Here are some examples: Houseperson cover from Tunbridge —lls Equitable costs a 30-year-old woman £28.50 monthly premiums for the maximum £1,250 monthly cover to 60. Legal & General's houseperson cover premiums begin at £10 a month. The maximum cover is £600 a month. ——————————————————————————————————7/10— Tourist Rates 548 Premium Bonds 549 BUSINESS B$$FFING ON OUR WEB SITE GO TO: www.teletext.co.uk Advice Property Savings City
P542 Teletext 541 Oct 2 21:00:00       ——————————————————————————    WHY HOMEMAKERS NEED INSURING TOO Health care provider BUPA offers a Disability Income Benefit which can be taken out by either partner. A 30-year-old woman pays £26.62 a month for a £10,000 a year payout with the first payment three months after the initial claim. On a six-month deferred basis, the monthly premium is £21.78, although the cost rises to £25.92 a month if the payouts are to rise with inflation. ——————————————————————————————————8/10— Borrowing 547 Money News 541 POPULAR SHARE CHECK p519 Advice Property Savings City
P542 Teletext 541 Oct 2 21:00:10       ——————————————————————————    WHY HOMEMAKERS NEED INSURING TOO The cost of bringing up several children can run into tens of thousands if not hundreds of thousands of pounds. Legal & General calculates the average spent on children each week is £97. How much people earn affects how much they spend on children. The Insurance Group says national average earners on £17,500 a year spend £81 a week, while people earning more than £25,000 a year spend £131 a week on average. ——————————————————————————————————9/10— Advice Clinic 543 Borrowing 547 BUSINESS BRIEFING ON OUR WEB SITE GO TO: www.teletext.co.uk Advice Property Savings City
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