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6 in 10 have no life cover

A recent survey has revealed that nearly sixty per cent of people in the UK do not have life insurance.

The online poll was conducted by leading insurer Legal and General and reveals some interesting attitudes towards protection.

People were more interested in covering their possession with two-thirds of respondents saying they had home insurance. By comparison more than one-in-five had mobile phone insurance compared with 17 per cent with critical illness cover and 14 per cent with income protection.

L&G suggest that the UK's priorities are "misguided" especially given that for the price of mobile phone insurance from a leading high street retailer a 30 year old, female, non-smoker would be able to buy over £240,000 worth of life cover.

Of the 54 per cent of respondents that indicated they have no cover at all, one-fifth said they did not do so because it was too expensive, 16 per cent said they were too young, and nearly a tenth were happy to risk not dying prematurely or becoming seriously ill.

When questioned on how their family would cope with their premature death, 44 per cent said they had no dependents, 15 per cent said they would rely on savings and 9 per cent said they would sell their property.