A study by F&C
Investments has found that a large proportion of British people aged between 35 and 45 have insufficient
life insurance.
The study looked at several aspects of personal finance, including
life insurance,
savings accounts and
personal loans. It found that 22 per cent of the 35-45 year olds surveyed on the online poll, had neither a will not adequate
life insurance.
Interestingly, the survey found that men and women had different approaches to the issue: women were more likely to have full
life insurance, but no will, and men were more likely to have a will completed, but many lacked life cover.
The cost of the insurance differs dramatically and it is worth shopping around when seeking life cover. F&C Investment’s head of global wholesale and marketing Scott Stevens added, "while some of the results of this survey are encouraging, there is a real need for people in this age group to sort their financial lives out."
Obtaining
life insurance should be a particular priority for the 35-45 age group. Many will have young dependents, a
mortgage to pay and debts, such as
personal loans,
credit cards and overdrafts to service.
