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THE
UK'S ARMY OF 2.3 MILLION UNPAID CARERS
APPROXIMATELY 2.3 million unpaid carers have given up the
option of paid work to look after families and the home. But Lincoln
warns households that rely on the unpaid work to tide them over are
taking massive financial risks.
Women account for the vast majority of the people classed as "economically
inactive" while they are looking after families or homes but as
more and more women return to paid work, the number of men staying
at home with children or families is rising, currently around
200,000.
The 2.1 million women and 200,000 men might be classed as "economically
inactive", but the work they do would be financially difficult to
replace. Average childcare costs are estimated at £7,300 per child
by the Daycare Trust while nursing home care for OAPs can be as much
as £455 a week, according to healthcare experts Laing & Buisson.
On the assumption that 2.3 million were paid the average national
wage of £24,000 before tax they would be earning as much as £55.2
billion. And Lincoln Financial believes more families need to think
about how they would pay for their unpaid help if they did not have
family members to rely on.
Ian Noble, head of strategic partnerships at Lincoln commented:-
"The "economically inactive" might not receive any pay for
their work but they make a massive contribution to the economy.
Childcare and care for the elderly are expensive and these people
are doing important jobs. Housewives, househusbands and other
family members giving up work to look after the house or relatives
deserve recognition for their work. Families need to think
long and hard about how they would cope if the person staying at
home could no longer do their unpaid work."
Lincoln Financial offers cover for homemakers as part of its
Financial Foundations product which is a specialist multi-benefit
protection product, providing whole of life cover in one place under
one wrapper.
It allows IFAs to provide their clients with a flexible approach to
protection planning; clients can add or remove from the product
menu, amounts can be increased or decreased at any time with no
additional charge, premiums can be set up on a minimum or a standard
basis, and cover plans can be pre-funded or targeted to last for a
specific term.
The product menu plan consists of life cover, critical illness
cover, permanent disability cover, elderly care cover, income
protection cover and waiver of premium. Financial Foundations can
also offer clients an inheritance tax planning solution. It includes
cover for home makers as well as those in paid employment.
For more information on Financial Foundations visit
www.lincoln-ifa.co.uk or call 0845 075 3535. |
Young
people at Bebington High Sports College are Living For Sport
YOUNG people at Bebington High Sports College in Bebington,
Wirral, are to be inspired and motivated by sport as part of an
initiative run by the Youth Sport Trust and BSkyB. Bebington is one
of more than 500 schools across England, Northern Ireland and
Scotland expected to take part in this groundbreaking project to
motivate young people through sport.
Living For Sport targets young people in danger of opting out of
school life, and has now reached over 300 secondary schools.
Teachers involved have seen a huge difference being made to their
students’ lives, with 57 percent reporting improved attitudes to
learning.
Launched 2 years ago, Living For Sport develops the life skills of
young people aged 11 to 16 through sport. Schools involved receive a
comprehensive package of support including training for staff,
resources for pupils, funding for activities and access to a
prestigious awards programme.
A recent independent evaluation of the initiative highlights that
students involved show improved behaviour, more self-confidence and
better relationships with teachers and other students, and are
attending school more regularly. Individual schools reported fewer
students getting into trouble, and more arriving on time.
Ben Stimson, Director of Corporate Responsibility at BSkyB says:-
“Living For Sport has achieved some impressive results across the
country so far, and we are very pleased that Bebington High Sports
College has joined in. We are delighted to be supporting the
excellent work of the Youth Sport Trust in running the initiative,
as part of our wider commitment to inspiring young people about
their futures across the UK.”
Sue Campbell, Chair of the Youth Sport Trust, says:- “We are
delighted that Bebington High Sports College has signed up to Living
For Sport. The initiative is going from strength to strength and is
successfully engaging young people who might otherwise have been
disinterested in school. We wish all the young people taking part in
Living For Sport at Bebington every success.”
For further information please visit:-
youthsporttrust.org.
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