A recent study by the HSBC has revealed that 49% of UK homeowners are more worried about losing their home than their partner! Only 36% are more worried about outliving their husband or wife, while 30% are worried about dying.
The report has found that people are, to a greater extent, expected to live with their children when they get older. Almost one in ten parents now expect to move in with their children in later life. This figure increases to 15% among 30 to 39 year olds, and for students, increases further to 1 in 5! But nationally, we are still among the most independent people in the world in our old age.
In France, 14% expect their family to bear the costs of their retirement, while in India, 51% expect to move in with their family.
Our view
We live in a material society and it is no surprise that people insure their homes more than their partners.
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