22 Dec 2024

Do you need life insurance

New research from Scottish Widows has shown that 62 per cent of British people have not put in place any long-tem measures to ensure they can survive financially if they lose their household's main income.

Nearly half (45 per cent) of people said they will fall back on their savings if they or their partner was incapacitated by ill health or injury but the research found that 63 per cent of those that plan to do so only have between £500 and £1,500 saved up.

Scottish Widows has warned that inadequate savings coupled with no protection could leave many people seriously at risk.

Richard Jones, the protection market director at Scottish Widows, said that illness, accident or death can occur at any time irrespective of the economic climate necessitating the need for cover throughout.

"Seeking financial advice and taking out protection to meet your needs can provide a financial cushion when you need it most," he said.

"The lack of protection coupled with people's tentative approach to saving in the current difficult economic climate could result in families and dependents taking radical steps to make ends meet if illness, accident or death affects the household income."

Life insurance has become more affordable thanks to recent falls in premiums, LifeSearch stated recently.

Do you want Advice on Life Insurance?

After you have compared the life insurance information on Go Direct if you would like Life Insurance Advice, please complete our life insurance enquiry form and we will contact you to discuses your insurance needs. Alternatively why not try our online life insurance guides on term insurance, critical illness cover, decreasing life insurance, and mortgage protection insurance.

How about an Instant Life Insurance Quote?

With Go Direct you can get discounted instant quotes on your term life insurance, family income benefit, mortgage life insurance, critical illness insurance, income protection and mortgage protection from the comfort of your home.