Having a new baby is generally described as the best, most rewarding but tiring time of parents lives. Now your little bundle of joy is here your priorities and outlook on life is probably different to how it was before. As parents we all want to protect our children and often the realisation of just how much is not apparent until they are in our arms.

For many, after the birth of a new baby, finances are often at their worst and many households end up relying on one wage. For many women the maternity pay their employers offer is that of the statutory amount (£145.18 per week or 90% of your average weekly income if lower*) which is usually far lower than the normal wage. Savings are normally eaten up due to the time off work and the added expense that mounts up with a new-born baby.

Sadly every 22 minutes a child in the UK loses a parent, with many of us with a head in the sand attitude or “it won’t happen to me”. 60% of UK parents do not have life cover to protect their spouses and children should the worst happen. The reliance of being able to work to support not just each other but a family is now more important than ever. An unexpected accident or illness can happen to the best of us at any time, but for families where the shopping list is ever growing, unless you have family to fall back on or sufficient savings, Income Protection should be a consideration.

We know you are tired and a full night’s sleep might seem like a distant memory, sleeping is NOT overrated no matter how much people try to tell you it is! The advisers at Babystep understand how precious your time is. We can pop out and see you at home during the daytime, at weekends or in the evening, whichever suits you. We can also offer telephone consultations if you are not up for visitors.

We can manage the whole process on your behalf and can offer bespoke tailored advice to fit your particular situation, one size doesn’t fit all and we pride ourselves in listening to what is important to you and making recommendations that fit both your priorities and budget.

*www.gov.uk/maternity-pay-leave/pay

We ask that you ask yourself the following questions:

• How would your family manage financially in the event of income loss due to sickness or accident?
• How would you pay off your mortgage and household bills if the breadwinner died or suffered a serious illness?
• Would you need to reduce your working hours to look after your children if one of you passed away?
• What are your plans to pay for your children’s education?
• Have you made a Will to protect your loved ones?
• Who do you want to care for your children, in the event of your death?