Aviva said it ‘wholeheartedly' supports a Parliamentary bill motioned for paid parental bereavement leave to become a statutory entitlement.
Tom Harris, MP for Glasgow South, put forward the bill, highlighting that many employers provide typically just three to five days for bereavement leave, and there is no set limit on the amount of days taken, only a "vague definition of a reasonable amount of time."
Speaking in the House of Commons, Harris said he did not intend any proposals implemented under the bill to place unaffordable costs or unwanted regulation on employers.
"Grieving parents should not be forced to choose between meeting their responsibilities to their families and putting food on the table" he urged.
Louise Colley, protection distribution of Aviva welcomed the proposal as it would spread awareness of the financial impact of such tragedies.
Aviva's Family Finances report had shown over 23% of families have no savings at all, and of those who do, the average amount is £3,281, leaving families unprepared should tragedies occur.
Colley added: "We believe that every family should understand the financial risks death can bring to a family and consciously decide whether they have adequate cover in place. A lack of financial certainty compounds feelings of bereavement, which in turn can have profound effects on every aspect of daily life."
"Sadly in the past we have taken calls from customers who have had to tell us their child has passed away and we haven't been able to offer them any financial help.
"As a result we have introduced a benefit which pays £5,000 to parents who have taken out life and critical illness plans with Aviva, should they find themselves in this terrible situation. The family can use the lump sum however they need, including funding time off work."
The bill is to be read a second time on Friday 18 October.
