More than half of adults do not have life insurance, despite two-thirds also having dependants, according to new research from Barclays.
The main reasons for not taking out insurance include not having dependants (25 %), never having thought about it (23 %) and believing it is not value for money (21 %).
Barclays has relaunched the Simplified Life insurance product to provide customers with affordable and reliable cover.
Rob Clarkson of Barclays says,” People have a natural blind spot around life insurance that means they often do not want to think about it. However, there are some key events in their lives, like having children, which lead to taking out insurance. Life insurance can be really valuable but many people are put off by the thought of it being expensive or complicated. We have taken those barriers away and made it really easy to get you and your family covered by offering a competitive and reliable product that is simple to understand and easy to buy."
Barclays Simplified Life Insurance is a comprehensive insurance policy with a number of additional features:
- Simple life insurance from Aviva pays a lump sum of up to £500,000
- 10% discount when you buy online - obtain a quick quote in just two minutes
- Choose either level term or decreasing term cover
- Monthly premiums from only £5 a month
- Your monthly premiums stay the same throughout the life insurance policy term