Aviva is offering free life insurance to new parents.
Cover of up to £10,000 is available to those with first offspring aged less than six months, and lasts until the child’s first birthday.
The promotion is in response to recent research from the insurer indicating that 40% of parents have no life insurance in place.
Furthermore, 17% of those with parental responsibilities only have sufficient cover to repay the mortgage, should the worst happen.
Aviva says the offer seeks to remind parents of the importance of protecting against events that can cause financial hardship.
Head of protection at UK Life Aviva, Louise Colley, comments: “We’re going the extra mile with this free cover because we believe it’s absolutely essential that new parents consider how they best protect their new family.”
The offer is available through advisers and according to Aviva, creates a real opportunity for advisers to talk to new and existing customers about family protection.
According to new parent support website, babycentre.co.uk, the average family spends £3,000 on a new baby during the first year of his or her arrival.