A life insurance provider has revealed in a study that parents are feeling financially drained at the moment.

Therefore, they have reminded parents that they can ease the burden by purchasing life insurance cover for their family. This way, they will know that their loved ones are protected.

The study showed that more than half of those surveyed reported that they were more worried about paying monthly bills because of the downturn.

Duncan Caesar-Gordon, head of protection products at the group, suggested insurance as one way of reducing some of the concerns that parents hold.

“One way of easing any financial worries is to ensure you and your family are protected financially. There are a number of protection products available to parents and families that can help achieve this, whether it's an income protection policy to cover monthly bills or life insurance to ensure your family is protected in the event [of] your death,” he stated.