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Nearly half the UK's population has no life insurance
Research recently conducted on behalf of Friends Provident revealed that 24million people in the UK have no life insurance to cover loss of income through illness or death of a breadwinner. 53% of those who do don't know how much a claim would fetch.
RESEARCH CONDUCTED recently in the UK on behalf of Friends Provident has revealed that nearly half (24million) the people in the country have no life insurance in place to cover loss of income through illness or death of a breadwinner. Amongst those who currently have life insurance policies, 53% have no idea how much they would receive if they were to make a claim. This suggests that they don’t know whether they have adequate cover in place. It is also highly likely they haven’t reviewed their cover recently and so could therefore be paying over the odds.
 
Richard Morea, Technical Manager at L&C said, “Consumers are clearly burying their heads in the sand and adopting an ‘it won’t happen to me’ stance. We urge people with no cover to take action now to protect their family in the event of the unforeseen happening. Those with cover should understand exactly what it will provide in the event of a claim. If it is sufficient, they should review the cost. L&C’s online 1 minute life insurance check calculator will quickly show them if savings can be made. In addition they should review whether their cover is still adequate and if it’s not take expert advice.”

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