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."
As many as 1.6 million Britons are heading abroad this Easter as those who holiday at home face the prospect of a wet weekend....
Eating too much, or too little, during pregnancy can result in an overweight child, research suggests.
Scientists have identified an enzyme that could be a useful target in treating asthma and boosting the effects of certain cancer...
The chaotic scenes at Gatwick Airport last Christmas Eve should act as a "wake-up call" to airports across the UK, MPs have warned....
A man has been awarded £7,000 in compensation by a holiday operator after his entire family was hit by gastric illness on...
Some pain relief drugs can raise the risk of developing an irregular heartbeat, experts say.
The spectacular temples of Angkor in Cambodia are the latest world wonders to be captured as part of Google's Cultural Institute...
France has been named as the most popular holiday destination in the world with more than 81 million visitors each year.
Four of the five best restaurants in the world are in the US - confirming the states as a number one holiday destination for foodies....
Passengers were forced to spend the night inside a locked plane on a runway after bad weather forced it to land.
The end of the ski season is approaching with a phalanx of festivals across favourite winter resorts giving tourists and star...
Budapest offers holidaymakers the best value city break, according to a new survey.
We've got a huge range of policies for all kinds of holidays.
Travel insurance products
Rothwell & Towler, Tourism House, Woodwater Park Pynes Hill, Exeter EX2 5WS
World First is a trading name of Rothwell & Towler (2013) Ltd and is an appointed representative of Crispin Speers & Partners Ltd who are authorised and regulated by the Financial Conduct Authority, FCA register number 311507. Travel insurance premiums and availability of cover may vary depending on individual circumstances. If you are a consumer insured (i.e. a person buying insurance wholly or mainly for personal purposes unrelated to your employment), you have a duty to take reasonable care to answer questions fully and accurately, and that any information you volunteer is not misleading. This duty exists before the cover is placed, when renewed, or altered at any time throughout the duration of the policy. If you do not do so, your Insurer may be able to void your policy from inception. Rothwell & Towler (2013) Ltd, Registered in England No. 08294942. Registered Office: St Clare House, 30-33 Minories, London EC3N 1PE.
© World First Travel Insurance 2014 | Terms of business | Terms and conditions | Site map
Telephone: 0845 90 80 161