Brits rate home insurance above life cover
17 December 2009 11:17:06
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| The majority of Britons do not have life cover. |
A study commissioned by life insurance provider Scottish Provident discovered that 71% of surveyed Britons had contents insurance, while just 44% had taken out life cover.
Even fewer people had considered the possibility of falling seriously ill, with only 15% of the 2,024 survey respondents claiming to have critical illness cover.
Susan Barclay, head of marketing at Scottish Provident, said that while the high uptake of home insurance was welcome, "this should not be at the expense of personal cover".
"Despite the fact that almost half of the respondents perceived personal insurance as too expensive, people need to be aware that life protection can be bought from as little as £10 per month," she pointed out.
The survey also revealed that 23% of polled adults had taken out insurance against the breakdown of an electrical item, while just 9% had purchased income protection insurance.
A separate study published by Scottish Provident earlier this year found that 64% of parents had not organised adequate financial protection for their children in the event of critical illness or untimely death.
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