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Over half have no life insurance, leaving many families vulnerable

Scottish Widows - logo

New research from Scottish Widows shows that 56% of adults have no life insurance in place to secure the financial wellbeing of their loved ones. More insure their pets and mobile phones than they do their income in case of ill health.

 

The third Scottish Widows Consumer Protection Report, which details research carried shows that many are continuing to shun life insurance, critical illness cover and income protection.

 

Clive Allison at Scottish Widows comments, "We realise that many people do not like to plan for the unknown, but the importance of doing so cannot be underestimated. Our research shows that the majority of people clearly understand the benefits associated with life, critical illness and income protection, but that many still do not adequately protect themselves, their families and their homes."

Life insurance news: 5 May 2011