International Tradesman

A survey has revealed that apathy is leaving nearly 20million UK adults in financial jeopardy because they don’t have any form of life insurance or income protection.

The key findings showed that over half of the UK is walking a financial tightrope with the most glaring statistics demonstrating:

• more than 37% say life insurance is on their ‘to do’ list or that they haven’t thought about it

• one in seven (15%) say they have made other provisions

• one in ten (10%) haven’t bothered because they have no dependents and feel no need for a life insurance policy

• 9% say they don’t have it because they don’t have a mortgage to insure

• 3% of people say they haven’t taken out a policy because they don’t understand it.

Industry experts have expressed their cause for concern that many people are taking an ‘it won’t happen to me’ approach to life cover. Around 52% of UK adults have no life cover at all and the remainder are either underinsured or unsure about what type of cover they hold.