family with gparents and dog

Average cost of raising a child in UK?


Research shows that parents face bills of almost a quarter of a million pounds to raise just one child to the age of 21.

  • 29% of parents’ gross annual income is spent on raising a child.
  • UK parents will spend an average of £67,586 per child on babysitting, nursery fees or childminders, based on current prices.
  • These childcare fees and rises in educational costs ( uniforms, school trips) that make up the biggest expense have risen 50 per cent faster than inflation over more than a decade.

A study, carried out by the *Centre of Economic and Business Research (CEBR) for a major insurer, suggests that parents have cut back spending on toys and even food but any savings have been swallowed up by other rising costs.

Almost half of mothers said they had either been forced to go back to work earlier than they would have wished or taken on extra work to help meet the cost of raising a family.

A guide to how much Life cover is enough.

The research from this survey equates to a family spending £10, 917 per year per child.  This does not include school fees or extra curricular lessons or clubs.

By far the most expensive time for parents is between their child’s first birthday and when they start school. The study calculates that parents will typically spend £61,084 between the aged of one and four, more than a quarter of the total.

Myles Rix, managing director of Protection at Liverpool Victoria has said

“No parent wants their child to go without and given a significant chunk of a family’s income is spent on children, it is important that parents take steps to secure their household’s financial future.”

Is Life Cover all I need to protect my family?

Life Cover is just one part of the protection jigsaw. Increasingly, both parents work these days to make ends meet and should one become sick, it can have a dire effect on a families income and mental well being. Income protection is another vitally important cover for families.

Are you unsure what cover is right for your family, take a look at our handy guides ‘What Cover is Right for me?’

We are always on hand to help guide and advise, we can help you decide how much cover and how long for according to your individual circumstances.

Next steps

Whilst you are welcome to get a quote on-line but we would recommend you talk to one of our advisers. We can help you decide on the right amount of cover and the right length of time your cover should run for, that fit into your budget. We are advisers and not sales people and below is a link to our independent reviews website.

Do you suffer with a medical condition and concerned you can’t secure insurance?  Please view our ‘Medical Guides’ for further information.

Your adviser will take into account your medical history. Any quote which they provide to you will take into account to your situation, your medical history, as well as your budget!

An on-line quote is just that – a quote – it isn’t a definite offer of cover. What really matters is the premium you are offered, after your application has been assessed.

Freephone 0800 644 4468 – Monday to Thursday from 09.00 to 19.00 and on Friday between 09.00 and 17.00.


Please feel free to read our Independent client reviews, or read about the team at Future Proof.

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Whilst we will make every endeavour to help someone to arrange insurance, there is no guarantee of success.  All applications are subject to underwriting.


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