Children are the future, are the being left behind?

Data recently released for UK families & households show the number of children in poverty increased in 2018-2019. according to the Department for Work and Pensions.

These figures could spike further unless the government does more to help families affected by the coronavirus crisis, Save the Children warns.

Data released today shows that child poverty increased last year by 100,000 children, with 4.2 million children now living in relative poverty after housing costs, up from 4.1 million last year. That's almost a third (30%) of children in the UK.

Despite government measures to protect jobs, many people still face losing their jobs or will see significant drop in income as a result of the Coronavirus crisis. This will impact all UK families & households. With the number of families - particularly the self-employed - claiming welfare support through Universal Credit expected to surge.

Will the government do more?

Half a million new claims for Universal Credit are already reported to have been processed by the Department for Work and pensions in the past nine days. However, anyone making a claim under Universal Credit must wait five weeks for their first payment – leaving many families with little or no income while they wait.

Even before coronavirus, our country’s safety net was failing too many children. Now there’s a danger that even more children will fall through the net. The government has done a great deal to help families affected by the Coronavirus crisis.

Families are already struggling and the five-week wait for Universal Credit payments will push them to the brink.

Protecting UK households & families

People in the UK are still failing to take out life insurance policies. Despite health problems topping their list of concerns.

At Life Insurance Cover we conducted a survey of UK adults in January 2020 which has some rather interesting points. The survey revealed 31% of respondents said poor health was their biggest worry. Followed by poor health of family members and death of a family member (both at 26%).

Insurance to protect families

More than two thirds of the UK adult population either have not purchased any life insurance (52%). Or doesn’t know whether they have or not (17%), according to our survey completed in January 2020. Which looked at households within the UK.

Only just over a quarter (27%) of over-55s said they had life insurance. 2% of whom said they had cover arranged via their employer. The average they were insured standing at £68,430.

In contrast, nearly a third (37%) of 18 to 34-year-olds said they had life insurance. 5% of those via their employer.  They were insured for the most out of all the age groups at an average £148,396.

Meanwhile, 35% of 35 to 54-year-olds reported that they had life insurance. 4% through their employer at an average of £129,453.

Northern Ireland and the north east of England reported the greatest life insurance coverage at 42%. Which is above people from London, where 36% had coverage.

The area with the lowest coverage was the East Midlands (17%).

At Life Insurance Cover we found the statistic of 52% of people. Are either not covered or simply not sure how life insurance works. This is especially concerning when you consider that life cover would be an essential purchase. As most of the 52% are home-owners in England.

Given the low levels of insurance take-up revealed in the survey. It is appears that there is a need for greater financial education to help consumers. Helping to protect the ongoing happiness of themselves and their family should circumstances change.

Housing and family homes

An estimated 8.4 million people in England are living in an unaffordable, insecure or unsuitable home, according to the National Housing Federation.

The federation said analysis suggests the housing crisis was impacting all ages across every part of the country.

It includes people facing issues such as overcrowded housing or being unable to afford their rent or mortgage.

The research estimated:

3.6 million people are living in an overcrowded home

2.5 million are unable to afford their rent or mortgage

2.5 million are in "hidden households" they cannot afford to move out. Including house shares, adults living with their parents. Also people living with an ex-partner

1.7 million Reside in unsuitable housing. Such as older people stuck in homes they cannot get around. Families in properties which have no outside space

1.4 million Live in poor quality homes

400,000 are homeless or at risk of homelessness - including people sleeping rough, living in homeless shelters, temporary accommodation or sofa-surfing

People were considered to be living in overcrowded homes, if a child had to share their bedroom with two or more children. Or share with a teenager who was not the same sex as them.

Homes where an adult had to share their bedroom with someone other than a partner were also considered overcrowded.

The need for Social Housing

It is estimated that around 3.6 million people. Could only afford to live outside of residential poverty if they were in social housing. This estimated figure is almost double the number on the government's official social housing waiting list.

Social housing rents are on average 50% cheaper than from private landlords. Contracts are secure and properties are designed specifically for older people.

It said the country needed 340,000 new homes every year, including 145,000 social homes, to meet the housing demand.