Britons lack life insurance, according to a new report
In a new study conducted by the insurance company Scottish Provident, has shown that one third of all consumers in the UK have no life insurance at all. Insurance group recommends that more people to sign a life insurance policy to ensure they are able to maintain a fair standard of living in case of illness or death of main breadwinner.
The report showed that 31 percent of adults in the UK currently have no organized financial safety net if the source of their main source of income is no longer there.
Also showed that nearly four million consumers would be able to survive on their savings if the main source of income disappeared, while 17 percent of respondents admitted that should depend on credit cards. The investigation also revealed that about 58 percent of those respondents not currently have any form of protective cover such as life insurance in place.
Susan Barclay, who is head of marketing at Scottish Provident, said: “It can be confusing to know where to start even when taken action on what you and your family will need for unplanned emergency occur – especially what are facts that most of us hope you never have to experience.