Brits gamble with insurance options
Many people in the UK prioritise insuring their possessions above their health and their lives, it has emerged.
New research from Legal and General revealed that two thirds of people polled had home contents insurance while just 41 per cent had taken out life cover.
Bonnie Burns, protection product marketing director for the provider, pointed out that for the £11 monthly cost of a mobile phone insurance policy, a 30-year-old female non-smoker could get over £240,000 of life cover with a leading insurer.
"The nation’s priorities seem misguided, with people more worried about losing their mobile than about how they would cope financially if they had a critical illness," said Ms Burns, emphasising that protection insurance is "widely-available, value-for-money and easy to arrange".
Of the 54 per cent of people who revealed they had neither life cover, a critical illness policy nor income protection, 16 per cent said they were "too young" while nine per cent admitted they were content to gamble that they "won’t ever become ill or die prematurely".
Just three per cent were concerned about being turned down for a policy while another three per cent were worried that a claim would be declined.
The Insurance Helpline specialises in obtaining cover for people with medical conditions
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