Brits would rather insure home than life
A new survey has revealed that British people would rather make sure that their home is insured than their lives, begging the question, how educated are people on the benefits of life insurance.
Whilst home insurance is vitally important, a life insurance policy can be the difference between a family keeping their home after the death of a loved one, and not keeping it, and the research from Zurich shows that many people aren’t appreciating the level of cover they’d receive.
The research shows than only 38% of Britons have life insurance policies in place, with a near £3billion shortfall in the amount of cover that they should have.
Nearly 75% of Britons have home insurance in place, showing that they see their homes as being important to them. The 37% of Britons insuring their homes, but not their lives should ask themselves what will happen to their homes if they were to die and leave their family unable to pay the mortgage.
The house will inevitably end up being repossessed, leaving the family with a home insurance policy with no house to insure.
According to the survey, 23% of people did call life insurance their most important form of insurance, but here at Life Insurance Quotes we want to increase that number by simply raising awareness.
Head of protection and underwriting at Zurich, Phil Brown explained, “Without life insurance, the devastation felt when a loved one dies can closely be followed by financial devastation when the family are unable to afford to live their current lifestyle.”
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