Half UK has no income protection insurance warns poll

Around half of the UK has no income protection insurance, Co-operative Insurance has warned.

The company warned that with a third of the UK expected to be diagnosed with cancer during the course of their lives, many are leaving their loved ones at risk.

Ideally, Co-operative Insurance estimates that people should have at least £150,000 cover for each of their dependents.

"The hard fact is that nearly half of the UK population do not have any form of life insurance cover in place," said Fiona Jackson, CIS head of protection.

"It is clear that people have the attitude that it will never happen to them which nowadays is a big gamble to take.

"Although people may think that a serious illness or injury will never happen to them, for what could amount to the price of a pint of milk a day.

"Critical illness or income protection policy will give families peace of mind and a tax free lump sum if the worst should happen."

The company estimates that the current protection gap stands at around £2.3 trillion.



Related Articles:
Wedding day 'can be paid for with loans'
Bank reports increase in home improvements loans
Vehicle depreciation 'can be sped up by smoking'
Holidays 'will not be cancelled in wake of credit crunch'
Seven million 'have not left the UK on vacation'