Families in the UK have been urged to consider whether the financial contribution made by fathers is satisfactorily protected with life insurance as the dust settles on Father\'s Day, which was marked last weekend.

Writing in Scotland on Sunday, Teresa Hunter highlighted the vital role fathers are increasingly playing in the home as parental responsibility becomes a team effort. The loss of a dad could have grave financial consequences for a family, especially since one third of fathers do not have life insurance, according to recent research by Legal & General.

Concurrently, only one third of fathers have critical illness insurance, while only one in four (27 per cent) have income protection cover. And with men now spending 53 hours a week on household chores and childcare, the need for at the very least basic life insurance for both parents is vital, argued the author.

\"There are various ways of providing an income for your family should you fall ill or die,\" wrote Ms Hunter. \"One is to insure for a large lump sum, which can be invested to produce an income.\" It would cost 448 a week to replace the work the average dad does at home in household chores and childcare, L&G research showed.

Where can I find out more about protecting my family?
With some many types of protection for your family it can seem very daunting as to where to start to find the best solution. Before you start looking it is important to set a monthly budget, once you have a budget you will need to research your protection needs and prioritise the areas that are of high importance to you.

There are many online life insurance and protection websites that provide detailed information on the different protections available for family protection. Once you have read up on the different options you have many will have online quotation systems that will allow you to obtain instant quotes on the different protection options. Once you have an idea of the costs for the different options you can prioritise which ones you need and which once you would like if you can fit the monthly cost into your budget.

If you would prefer you can just go to an independent financial advisor, there are many online financial advisors these days you other fee free financial advice. They will take the time to complete a detailed analysis of your financial situation, known as a fact finding, and come back with a detailed proposal for you families financial protection. It is important to remember that you do not need to take their recommendation and you can use their advice to shop around and see if you can get the same cover at a cheaper premium.