UK Money News
10th March 2008
Millions of Britons neglecting life insurance cover
Millions of Britons are underinsured with many having no form of life insurance at all, a new study has shown.
Figures from Norwich Union show that 20 million Britons have no life insurance cover at all.
The principal reason cited for their failure to take out such a policy was that it is something they intend to do but have not had the time - a factor of one in one-third of cases.
Meanwhile, one-fifth of those surveyed said they do not feel that life insurance cover is necessary since they have no dependents.
Darren Dicks of Norwich Union said: "These findings are cause for concern as they suggest many people are taking an 'it won't happen to me' approach to protection."
"Many people wait until they have a particular event in their lives, such as a house purchase or the birth of a child before they purchase life cover, but people shouldn't take the view that they need to wait."
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