Lack of insurance 'puts Britons at risk'
Brits are putting themselves at risk by not having life insurance, a survey published today reveals.
The survey, carried out by Fairinvestment.co.uk, found that 24 per cent of Brits did not have important insurance packages such as home insurance, travel insurance and life insurance.Responses to the survey revealed that only 12 per cent of people had insurance to cover payment protection and almost a quarter lived without life insurance.
The figures showed that as many as 90 per cent of 19 to 21-year-olds surveyed had not bothered to take out life insurance.
Rachel Stiles, spokeswoman for Fairinvestment.co.uk, said that the figures were "worrying" and warned that young people without life insurance could potentially leave their loved ones footing large bills.
She said: "As budgets get tighter, I can understand why Brits are cutting back, but insurance should be one area that is sustained."
The survey follows the news that AIG, once the world's largest insurer, has been bailed out by the US government, which may enable it to sell cheap life insurance.
© Copyright
Related Articles
- Credit crunch mean people putting off retirement - 14th January, 2009
Prudent Minds - number 1 for pensions advice
The credit crunch is pushing many people in the UK to put off their retirement, according to research conducted by a cheap life insurance provider.
Life Trust, which also gives pensions advice, found that one-quarter of working adults in the UK are considering putting off their retirement as the credit crunch causes the value of their savings and property investments to fall... - Young people 'not buying life insurance' - 24th February, 2009
A study conducted by LifeSearch has revealed that many young people are not taking out life insurance policies, despite the fact that they may be offered cheaper rates.
LifeSearch's figures reveal that only three per cent of all the policies written by the company in 2008 were purchased by young people... - Life insurance premiums 'could be cut' by quitting smoking - 3rd March, 2009
Life insurance premiums could be reduced by stopping smoking, according to moneysupermarket.com.
The website claims that by quitting smoking, individuals could save on average up to £1,725 on a single life insurance policy, or £8,404 on combined critical illness and life cover... - Life insurance provider finds credit crunch is harmful to the health - 2nd June, 2009
Life insurance provider Saga has conducted a study which reveals that the credit crunch is affecting the way people treat their healthcare.
The poll revealed that 27 per cent of people in the UK have cancelled a fee-based health appointment recently because they consider the cost to be prohibitive in the current economic climate... - AXA warns on life insurance and savings accounts in the UK - 6th April, 2009
Life insurance policies and savings accounts in the UK are being neglected by many people, it has been suggested.
AXA, which recently announced it would be providing investment and protection products to Clydesdale and Yorkshire Bank's customers, claimed that many Britons are turning a blind eye to what could happen should they be affected by illness, death or loss of income... - Permanent health insurance 'becomes more popular despite recession' - 27th April, 2009
Permanent health insurance is becoming increasingly popular in the UK, despite the ongoing recession, according to the latest figures from the Association of British Insurers (ABI).
The industry body found that last year, a total of 7.35 million people in the UK were covered by some form of private health insurance, representing an increase of 2.7 per cent on the total for 2007... - Friends Provident: £36 million paid in critical illness claims - 25th February, 2009
Friends Provident has revealed that it paid out a total of £36 million to its customers in critical injury claims over the course of 2008.
The insurer, which also provides life insurance, said that of the 691 claims received, 87.3 per cent were paid and 12.7 per cent were declined... - Investigation slams some cheap car insurance sellers - 29th January, 2009
Prudent Minds - number 1 for cheap car insurance quotes
An investigation by a consumer magazine has found that certain price comparison websites do not return accurate quotes to customers searching for cheap car insurance.
Which? magazine conducted a study of several of the sites and found that some did not display the excess charges they had stipulated and a few even adjusted the charges in order to return cheaper quotes... - AXA 'is best life insurance company' - 20th March, 2009
Life insurance quote search website LifeSearch has announced that the best life insurance company in the UK in 2009 is AXA.
The website announced that the insurer the coveted prize for best service provider on Wednesday in a ceremony at the Hiscox Art Cafe... - LV= pays out £46m to insurance customers - 16th March, 2009
LV= has revealed that it made payments worth £46 million in total to its life insurance policy holders last year.
The figures, which include £8.4 million worth of critical illness claims for those with permanent health insurance policies, show an increase on the number of accepted claims on the previous year...