Fewer fathers buying protection leaves families exposed

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The number of dads holding income protection (IP) has fallen by 5% in two years, according to results from Legal & General.

It found that only one in five (22%) fathers now has IP with two thirds (64%) having life cover and less than a third (30%) critical illness (CI). The provider warned that this low take up could leave families vulnerable if a dad died or became seriously. It's study suggested that fathers did £21,306 worth of work around the home each year, averaging 50 hours a week on housework and child care, although this figure has dropped from 53 hours in 2009. On average 20 of those 50 hours are spent on childcare, 6.5 on shopping and household tasks, 7 on cleaning and 5.5 on cooking. And ...

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