Call for an instant quote
0845 90 80 161
Open Mon to Fri 09:00 - 17:30 | Sat 09:00 - 16:00 (GMT)
05 March 2013 09:03
Many grandparents have given cash to their grandchildren to help them out
Many grandparents are having to help their grandchildren financially, research has shown. Around one in six said they have helped their younger relatives overcome money woes with cash handouts, with £2,496 being the average amount given away.
The Investec Wealth and Investment survey, which involved more than 1,000 grandparents, showed that 15% helped with big costs such as university fees or buying and renting a home. Meanwhile, just under half (47%) said the cash was for reducing debts or helping to relieve pressures from high living costs. Older people in Wales were found to be the most likely to be helping out their grandchildren, with just over a fifth (21%) handing over money.
With many grandparents having to help in this way, it can be important that for expenses such as holidays and
seniors travel insurance they shop around and get the best possible deals to maximise their funds. Nick Gartland, senior financial planning director at Investec, explained that there had been a number of cases where grandparents had to help out when their grandchildren lost their job and were struggling. He added: "Many grandparents are also conscious of the impact of inheritance tax and believe it makes more sense to see the younger generation benefiting from their assets during their lifetime."
08 October 2015
Postman Pat, the Tweenies and the characters of Balamory could be recruited to help the nation fight obesity by introducing young TV viewers to healthy eating messages.
07 October 2015
Taller people are more likely to get cancer than shorter individuals, research suggests.
06 October 2015
Over one billion people will become part of the worldwide "obesity epidemic" unless international soft drink firms take swift, strong action on their sugar levels, a charity has warned.
03 October 2015
Smoking in cars with children present became illegal in England this week - and new figures suggest why the law may be important.
02 October 2015
The risk of developing diabetes is much greater among people with high blood pressure, a new study has found.
01 October 2015
Aspirin has the potential to double the life expectancy of certain cancer patients, new research suggests.
30 September 2015
Genetic mutations which are only usually seen in breast cancers that return after treatment have been identified by researchers.
29 September 2015
Around £1 million is paid out every day to travellers who need help with medical expenses when they are away from home, insurance industry figures show.
26 September 2015
Women in the UK do not live as long as most of their European counterparts, according to a report.
25 September 2015
A potentially life-saving bowel cancer test is being shunned by hundreds of thousands of people, Cancer Research UK says.
24 September 2015
One in three people born in the UK this year may develop dementia during their lifetime, new figures suggest.
23 September 2015
The chance of developing Type 2 diabetes is raised by smoking, new research indicates.