Over half of UK adults do not have life insurance

By Marianne Straker, Wed 4 May 2011 - Published in Life Insurance

Over half of UK adults do not have any life insurance, according to research from Scottish Widows.

Its report estimated that 28 million of the UK population do not have life cover in place, which leaves their loved ones vulnerable financially if something happened to them.

Furthermore, 97 per cent of people surveyed said they are aware of the importance of life insurance.

Clive Allison, market director for protection at Scottish Widows, stated: "We realise that many people do not like to plan for the unknown, however the importance of doing so cannot be underestimated."

He noted that people understand the benefits associated with life insurance, critical illness and income protection, yet many do not adequately protect themselves.

Recently, Confused.com revealed that nearly half of mums in Britain do not have life insurance.

Furthermore, it found that 30 per cent of mums without cover said they did not have time to sort it out, and another 30 per cent felt it was an unnecessary cost.

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