Bright Grey launches family campaign

Bright Grey is launching a family campaign to help advisers make sure their clients have enough insurance in place to protect their families if things go wrong with their health or they die.

Research carried out for Bright Grey, the protection specialist arm of the Royal London Group, has found that 1 in 3 families in the UK have no life, critical illness or income protection cover in place to protect their families in case something happens to them.

Commenting, Bright Grey Head of Sales, Kevin Stevens, says: “We all know that many people are under-insured and hearing that 1 in 3 families have no cover in place maybe should not surprise us. So we know the issues, but do consumers? We believe that many of those parents who do not have cover do not even know they are leaving their families at risk. It is clear that people really need advice to make sure they are protecting their families adequately and they do not find themselves in dire straits if things unexpectedly go wrong. Even those who do have insurance often only protect their mortgage. Our research found this applies to about a third of families. But who is this really protecting the family or the lender? Families need to protect their home, not just their mortgage. What is the point of paying off the mortgage if they cannot afford to pay for food, clothes, bills and keeping the car on the road? The worry is that without enough cover they are in real danger of losing their home even if the mortgage is paid off, as they will not be able to afford to live in it.”

Key findings of research into parents and what they protect:

  • 1 in 3 families have no life, critical illness, income protection or mortgage protection in place.
  • About 1 in 3 families only have enough life insurance to pay off the mortgage if something happens to the main earner.
  • 4 out of 5 families have no critical illness cover.
  • The vast majority of families (85%) have no life cover for the lower/non-earner; this person often provides a lot of support services within the family that can be costly to replace if something happens to them (looking after the children, cooking, cleaning, school run etc).


The following figures show the risks families face during their working lifetime (before age 65) according to Munich Re (2007).

  • Death: Male - 1 in 12; Female - 1 in 16
  • Critical Illness: Male - 1 in 4; Female - 1 in 5
  • Income protection  (26 weeks): Male - 1 in 6; Female - 1 in 5
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