Women fail to prioritise life insurance

Three quarters (76%) of women say their families would struggle to pay bills if they fell ill or died, research by Scottish Widows has found.

Despite this the women surveyed were more likely to prioritise contents insurance rather than life cover – 81% thought insuring their possessions was important, compared to 33% who said the same about health and life insurance.

When it comes to taking out a policy, 31% had life insurance and 9% had critical illness cover.

Further findings:

  • 25% would rely on state benefits if they couldn’t work for six months
  • 54% don’t have a will or guardianship arrangement to care for their dependants.

Jackie Leiper, protection director at Scottish Widows, said:

“It’s crucial that everyone – no matter what stage of life they’re at – considers whether they have the right protection in place to ensure their loved ones aren’t left coping with financial strain on top of emotional trauma if the worst were to happen.”

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