1 in 5 dads 'do not have life cover'

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Around one in five fathers in the UK do not have life insurance, according to new research.

The study by Friends Provident found that despite the lack of cover, many dads have spent money on expensive gadgets in an effort to become more popular with their children.

It was revealed that 34 per cent of fathers have bought clothes or gadgets due to pressure from their offspring, with 44 per cent owning an mp3 player or iPod.

Peter Timberlake, head of public relations at Friends Provident, said that the findings show that many dads are "focusing on the here-and-now, rather than thinking about tomorrow".

He added: "As men continue to have children later in life, they need to ensure that they have the finances in place in order to stay cool for longer and to maintain the standard of living for them and their children regardless of what the future holds."

Previous research by Friends Provident found that more women aged between 25 and 45 own a car than have savings or investments.

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