Nearly a quarter of homeowners have no life insurance cover for their mortgages, according to a survey by Friends Provident. They are more likely to insure household contents and luxury items, rather than their lives!
Over two thirds of those polled said that they had life cover, but nine out of ten said that they had contents insurance. Despite not insuring their mortgages, 64% did say that they did not like the thought of their family being forced to sell the family home. Seventy eight per cent of people believed that the breadwinners have a greater responsibility to ensure that their immediate family are provided for if they die.
There is a £2 trillion protection gap in the UK, and the study has shown that too few people are taking this matter seriously.
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