Critical illness cover critically low

Only one in eight Brits has critical illness cover, in case of health problems preventing them from going to work – yet almost 30 million people are in employment in the UK.

Research by Legal and General, the insurance provider, found that only two in five adults have life insurance cover, but two thirds have home contents insurance.

When asked the reasons for not buying it, one in three people said that they did not have any financial dependents, but almost one in ten people said that they were happy to take a chance on their remaining healthy.

A further one in eight saying that they were "too young" to be worried by life insurance, and one in five people thinking that it would be expensive.

Bonnie Burns, Legal and General's protection product marketing director, says: "The nation's priorities seem misguided, with people more worried about losing their mobile than about how they would cope financially if thy had a critical illness.

"We all know that it is difficult to face up to our own mortality but when insuring possessions is prioritised above insuring lives, then something has to be done."

When asked how their family would cope in the event of their death, one person in ten had no idea, and one in 12 expected relatives would help out.

13/11/2007 11:49:39