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| Pru Live UK |
A study carried out the Post Office has found that 75% of UK adults do not currently have any form of life insurance cover, meaning that millions are risking the financial security of their families in the event of accident or illness.
Although many reasons were cited for people not taking out either level term or decreasing term life insurance, 28% of the study’s participants said that they did not have cover because of its prohibitive cost; this is despite the fact that the price of most policies have continued to fall over the past decade.
Worryingly, 18% of respondents said they had no form of cover because they believed they did not deserve it.
Duncan Caesar-Gordon, Post Office’s head of protection, commented, “Thinking about the future and how the family will cope should the unexpected happen is a worry that can be easily avoided by taking out life insurance.
With a typical cost of £10 per month people would have peace of mind knowing that their loved ones are protected.”
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