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Life Insurance ‘Too Expensive’ for Brits

Research from Beagle Street has found that Brits are shunning life insurance policies in large numbers, because they believe it is ‘too expensive’

39pc of people who took part in the research claimed they felt that life insurance policies cost too much, despite the fact that prices start from just £3 per month. This means that more than half of British adults are at risk of leaving their families’ in a potential state of financial ruin in the event of their death.

Other results of the research showed that almost one in five adults in the UK have ‘never considered’ life insurance policies, and only 45pc of married couples have a policy. This is despite that fact that the average owed by a UK household is £55,000.

Director of Beagle Street, Matthew Gledhill, added: “Far too many Britons are at risk of financial difficulty should an adult in the household pass away”. He also stressed that in order to crack the market, companies would have to make life cover ‘simple, affordable and easy to buy’.

It does make sense to consider life insurance at a younger age too, as premiums are likely to be lower, even if the individual is in a poor state of health.

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