Income protection: Do your clients know how much it costs to raise a child?

Last week, we at LV= revealed the cost of raising a child to the age of 21 now stands at over £230,000 (£231,843 to be exact). This varies across the UK, with Wales, and York and Humberside, coming in at around £215,000, compared to London where costs soared above the quarter of a million pound mark for the first time. This means that, on average, it now costs more to raise a child than it does to buy a semi-detached house. We found that parents can expect to pay £11,500 in the first year of a child's life, but the most expensive years are ages one to four. Over these three year...