Menu
Save, make, understand money

Insurance

15 million Brits are taking a risk with no protection cover

Your Money
Written By:
Your Money
Posted:
Updated:
01/06/2012

UK adults are putting their financial health at risk by failing to insure vital areas such as life insurance, income protection, critical illness and mortgage payment protection

According to new research from professional advice website unbiased.co.uk.  three in ten (30%) consumers are uninsured in vital areas.

The survey also revealed that 8% of Brits have cut back or stopped taking out insurance cover in the past 12 months.

Karen Barrett, CEO of unbiased.co.uk, said: “Consumers looking to tighten their purse strings are now adding insurance policies to the ‘cancellation list’, choosing to let go of their financial security in favour of some extra cash in their pockets. The ‘it won’t happen to me’ attitude seems to be at the forefront of people’s minds as they fail to realise what this may cost them in the future.

“We need to raise awareness amongst consumers that the state is no longer prepared to intervene in the event of ill-health or redundancy; it is up to each of us to take on this financial responsibility.”