If you have a shared mortgage or dependents, experts recommend that you have financial protection in place, such as life insurance and critical illness cover. Many people in this position do not have this type of insurance, arguing that they can't afford to pay for it. Yet with new research suggesting that two-fifths of people would not miss £10 each month, life cover might be more affordable than you think.
Brits would be generous with a £10 note Britain may be in the grip of a double-dip recession, but the latest research from insurance provider Bright Grey suggests that many would be able to spare a small amount of money each month. A survey of 1,005 adults, conducted by Opinion Matters on behalf of the insurer, found that half of adults would give £10 to their family each month if they could afford it, with one in four giving it to charity. Just two-fifths of respondents said they knew exactly where all their money went each month, suggesting that many could make savings if necessary. And 39% claimed they would not miss £10 each month.
Insurance could cost as little as £10 The findings should be of interest to those without life cover, as they suggest that many people could spare a small amount of money each month without slipping into debt. In fact, protection is available for as little as £10 a month and buying this amount of cover could provide up to £200,000 worth of life cover in the event that the policyholder dies unexpectedly.
Roger Edwards, proposition director at Bright Grey, said: "Even in these times of austerity, an amount of money like ten pounds wouldn't be missed every month. People need to ensure that their financial priorities are made so that they do not end up being wasteful with money. Securing their financial future should be fundamental for families to work out, and there's little better way of spending a £10 note than to know that you have protection in place should the worst happen."
Please ensure that you fully read the terms & conditions of any product or policy before you decide to proceed and are fully aware of the total costs and the benefits and any exclusions or limitations applicable to the product or plan.
Please note that the product links will take you direct to the Issuer or Insurer's site direct and we cannot be held responsible for the information which they provide within their own sites. On some comparison tables we use a star rating which rates products by visitor popularity.
We are also authorised with the Office of Fair Trading, CCL number 624508/1. In compliance with the Consumer Credit (Advertisements) Regulations 2010, Freedom Marketing is a Credit Intermediary for all consumer credit products listed on our sites, with the exception of products from the following providers: Tesco Bank, Royal Bank of Scotland Group and Nationwide Building Society.