Confused.com Research Reveals Reasons For Lack Of Life Nsurance Cover In The UK
Released on: October 26, 2011, 11:57 am
New research from Confused.com has revealed that 50% of adults
surveyed do not have a life policy in place, worryingly, of those
without life insurance, 29% have children and 52% are married, meaning
loved ones would be left financially disadvantaged should the worst
31% of people do not to take out life insurance because they don’t benefit from it
personally. In fact, people in the UK are so laid back about future planning for
their loved ones, 34% of people say that covering their possessions is more
important than covering their lives.
Moreover, 20% would prefer to spend their money on an annual holiday and 11% see
covering their laptop as more of a priority.
The research suggests a shift in UK mentality with more people opting to live for
the moment, rather than thinking ahead.
However with life insurance policies costing an average of just £22.29 a month,
it's not really affordability that should be questioned but people's priorities.
Matthew Lloyd, Head of Life Insurance at Confused.com, said: "It's worrying that
people are blaming cost for not having any life insurance when they spend so much
money on other things, which are arguably less important than future planning for
their loved ones."
"With over 50% of people not having life insurance and 56% of their partners not
having life insurance this shows a worrying future for peoples loved ones. The
benefit of life insurance is peace of mind; knowing your family will be looked after
"An average life premium YTD is roughly 74p a day, which is loose change in many
people's pockets, however 34% people say they can't afford it. Shopping around for
the best deal available on comparison sites like Confused.com is essential in
finding the right policy at the right price."
- Ends -
Confused.com is one of the UK’s biggest and most popular price comparison services.
Launched in 2002, it generates over one million quotes per month. It has expanded
its range of comparison products over the last couple of years to include home
insurance, travel insurance, pet insurance, van insurance, motorbike insurance, life
insurance and energy, as well as financial services products including credit cards,
loans, mortgages and life insurance. Specialist life insurance comparison includes
comparing products like critical illness insurance, pensioner life insurance
and level term life insurance.
Confused.com is not a supplier, insurance company or broker. It provides a free,
objective and unbiased comparison service. By using cutting-edge technology, it has
developed a series of intelligent web-based solutions that evaluate a number of risk
factors to help customers with their decision-making, subsequently finding them
great deals on a wide-range of insurance products, financial services, utilities and
more. Confused.com’s service is based on the most up-to-date information provided by
UK suppliers and industry regulators.
Confused.com is owned by the Admiral Group plc. Admiral listed on the London Stock
Exchange in September 2004. Confused.com is regulated by the FSA.
Confused.com press office
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