Britons consider life insurance for their friends

Life insurance provides customers with an insurance policy which will pay out a lump sum payment to your loved ones in the event of the customer’s death.

With more and more people seeing their long term friends as their loved ones, it’s inevitable that people are going to consider covering their friends with their life insurance policies, particularly as marriage becomes less popular and divorce rates rise.

Confused.com carried out a recent online survey and revealed that 59% of single people in the UK would consider leaving money behind for a friend through a life insurance policy, where they had bought a home together.

The move from relying on friends over family when it comes to money issues was highlighted by the findings that 31% of men would rather go to their friends for a loan than their family, especially if they needed cash in a hurry.

23% of women also revealed they would look to friends first in a financial emergency.

The survey looked into the rising number of happy single people in the UK, and reveals the values of marriage are quickly evaporating in this country. Of those asked, 34% of women no longer valued marriage in the same way as they used to, and 21% of men revealed that they though marriage was now an old fashioned way of committing to someone.

Head of marketing at confused.com, Mike Hoban revealed, “As the welfare state retreats, the importance of life insurance has never been more certain.

“The need for us all to prepare for the worse, and protect our loved ones, is paramount.”

Life insurance provides customers with peace of mind, and there seems to be no reason why people shouldn’t have peace of mind that their friends will be looked after in the same way that they would like to look after their family.

For life insurance quotes use our online quote calculator and find the best value life insurance for you.

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