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03/08/2012
Apathy And High Prices Leave 55% Of Brits Without Life Insurance
Despite rising levels of financial commitment, British adults are rejecting the peace of mind offered by life insurance, a new study has found.
A YouGov poll of more than 2,000 people, conducted on behalf of beaglestreet.com discovered that 55 per cent of adults do not have life cover, despite the protection it offers for family members who could struggle financially or even lose their home in the event of a death.
Cost was the primary barrier to purchasing cover, with 39 per cent of those without life insurance saying ‘It’s too expensive’. Worryingly, almost one in five people, at 19 per cent, said that they have ‘never thought about it’. The research also highlighted that certain groups of people are more likely to lack cover – even though they may in fact have a greater need. For example, 61 per cent of divorced/separated adults had no life insurance, and those living with a partner were more likely not to have a policy (55% said they had no cover) than those who were married (45%).
The research also revealed high levels of uncertainty around the option of placing life insurance in trust, so that inheritance tax does not apply to the pay out. Only 10 per cent of respondents with life insurance said that their policy was held in trust. 48 per cent said that their cover was not, and a further 43 per cent either did not know if this was the case, or were unclear as to what ‘held in trust’ means.
Of those who did have life cover, top reasons for buying it were as follows:
• To cover the mortgage if I pass away (54%)
• For peace of mind for my partner (44%)
• To ensure my children’s financial security/future (31%)
• To cover debts/loans if I pass away (22%)
Only 58% said they had reviewed their life insurance in the last five years.
Matthew Gledhill, Director of Beagle Street, said: "Far too many Britons are at risk of financial difficulty should an adult in the household pass away. The average UK household owes more than £55,000 , and many of them have no provision in place. People think that life insurance is too expensive – or have never even thought about it. "
(GK)
A YouGov poll of more than 2,000 people, conducted on behalf of beaglestreet.com discovered that 55 per cent of adults do not have life cover, despite the protection it offers for family members who could struggle financially or even lose their home in the event of a death.
Cost was the primary barrier to purchasing cover, with 39 per cent of those without life insurance saying ‘It’s too expensive’. Worryingly, almost one in five people, at 19 per cent, said that they have ‘never thought about it’. The research also highlighted that certain groups of people are more likely to lack cover – even though they may in fact have a greater need. For example, 61 per cent of divorced/separated adults had no life insurance, and those living with a partner were more likely not to have a policy (55% said they had no cover) than those who were married (45%).
The research also revealed high levels of uncertainty around the option of placing life insurance in trust, so that inheritance tax does not apply to the pay out. Only 10 per cent of respondents with life insurance said that their policy was held in trust. 48 per cent said that their cover was not, and a further 43 per cent either did not know if this was the case, or were unclear as to what ‘held in trust’ means.
Of those who did have life cover, top reasons for buying it were as follows:
• To cover the mortgage if I pass away (54%)
• For peace of mind for my partner (44%)
• To ensure my children’s financial security/future (31%)
• To cover debts/loans if I pass away (22%)
Only 58% said they had reviewed their life insurance in the last five years.
Matthew Gledhill, Director of Beagle Street, said: "Far too many Britons are at risk of financial difficulty should an adult in the household pass away. The average UK household owes more than £55,000 , and many of them have no provision in place. People think that life insurance is too expensive – or have never even thought about it. "
(GK)
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The justice minister has revealed plans to introduce mandatory life sentences for those who commit serious crimes more than once. The "two strikes" rule will see anyone convicted of a second serious sexual or violent crime in England and Wales being handed an automatic life sentence.
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Men Pay More For Life Insurance
Men across the UK are paying far more for their life insurance than women, accordng to new research. Men are paying an average of 26% more per policy, per year. To make matters worse, Confused.com reveals that a shocking 1 in 4 men never shop around for anything better.
Men Pay More For Life Insurance
Men across the UK are paying far more for their life insurance than women, accordng to new research. Men are paying an average of 26% more per policy, per year. To make matters worse, Confused.com reveals that a shocking 1 in 4 men never shop around for anything better.
15 May 2013
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'Life means life' for murderers says Blunkett
Under new proposals on sentencing for murderers, "life will mean life" for what the Home Secretary describes as "the most serious offenders". The new sentencing 'principles' provide that anyone who abducts and murders a child should never be released from prison.
'Life means life' for murderers says Blunkett
Under new proposals on sentencing for murderers, "life will mean life" for what the Home Secretary describes as "the most serious offenders". The new sentencing 'principles' provide that anyone who abducts and murders a child should never be released from prison.
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