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Research reveals Brits lack life insurance
09 January 2008 16:24:34
That is the conclusion of major provider Friends Provident after research revealed that more than half of Britons do not have life cover.
Friends Provident's poll indicated that over 27 per cent of individuals asked would choose to buy life insurance if they had £5 a month dedicated to a premium, while six per cent admitted they would swap their mobile phone for a free policy.
Of the 46 per cent of people who said they had life insurance, nearly seven in ten claimed they seek professional advice when considering cover.
Mark Jones, protection products and actuarial manager at Friends Provident, confirmed that life insurance is a basic way of providing for loved ones at a difficult time.
"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," he remarked.
According to a recent study by Aegon, British people are now living longer, with 9,000 people aged 100 years or older living in the UK in 2006.
Direct Life and Pensions Services Ltd are one of the UK's leading providers of life insurance, term life assurance, mortgage protection, critical illness and life insurance advice online
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