You are here: Home - Insurance - News -

Life insurance not top priority

0
Written by:
07/01/2008

More than half of UK consumers (54%) have no life insurance cover, research from life and pensions company Friends Provident has shown.

According to the results of Friends Provident’s Protection Survey, 6% of people are prepared to accept only free life cover in exchange for their mobile phone, with more than 27% saying that they would opt to buy life insurance cover if they had £5 per month to spend on insurance.

For the 46% who do have life insurance, 69% take professional advice from a financial adviser when buying cover, or conduct their own research using the internet or newspapers.

Mark Jones, protection products and actuarial manager at Friends Provident, said: “Life insurance is the most basic form of protection you can get – and it plays such an important role in providing for your family and loved ones, very often at a time of absolute need.

“Understandably, none of us really want to think about our own mortality, but we do owe it our families to ensure that we have made provision – be it to pay off the mortgage or provide a lump cash sum. Let’s hope in a year’s time, these figures for those with life insurance show a big increase.” 

Related Posts

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

YourMoney.com Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
2.6 million new credit cards taken out in January

Up to 2.6 million credit card customers plan to start the New Year by transferring credit card debts run up...

Close