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Insurance Directory >> Life Insurance News UK Life Insurance NewsThursday, September 08, 2005
7 million Briton's completely uninsured
According to new research from Scottish Provident, seven million people in the UK are taking huge financial risks by leaving themselves and their possessions completely uninsured.
Scottish Provident's findings reveal that 15% of adults admit that they don?t have any insurance at all. And, while house and car insurance are the most popular policies to have, a worryingly high 22% of us have no home contents insurance and three out of ten drivers claim to have no car insurance. The research also discovered that people take an even more risky approach when it comes to protecting themselves and their families. Half of people have no life insurance and only one in five have protection in case they cannot work because of a critical illness. The figures are all the more worrying given that half of UK adults say they could not afford to maintain their current lifestyle beyond one or two months if their work circumstances were to change. Sue Wilkinson, Head of Life and Health Propositions at Scottish Provident said: ?It?s no great surprise to find that people are more likely to protect their belongings than their ability to meet the household bills if things change, but it is still worrying. Our research found, for example, that people are twice as likely to insure their mobile phone than their income, yet there are no bets for guessing which of the two is most vital to them". ?With so many different types of insurance policies on the market, people can easily get confused and this is probably why they avoid the issue altogether. But, people do need to think very carefully about what they would do if they were made redundant or had a long-term illness?. Scottish Provident has provided the following tips to help people get the right protection:
Scottish Provident?s research also highlights some interesting insights into the realities of life people most dread. More than nine million UK adults would buy relationship insurance that would pay out for choosing the wrong partner or spouse. Women are more likely to opt for this than men, with more than a fifth saying they?d welcome financial protection for their love lives. More than a quarter of people (28%) would buy insurance if they could, to compensate them for getting old. Whilst women (one in five) would be twice as likely as men (one in ten) to buy insurance that pays out if they pile on the pounds. posted by UK Insurance Index @ 12:45 PM
 
News items are intended for information only and should not be relied upon when making insurance decisions. Due to their nature some of the information in these news stories may no longer be current. |
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