One third of adults with a mortgage have enough life cover: Hargreaves Lansdown

More adults had CIC than life cover

Jaskeet Briah
clock • 2 min read

Adults with a mortgage were less likely to have enough life cover in place, with 35% having enough life insurance, Hargreaves Lansdown (HL) has found.

According to the latest HL Savings & Resilience Barometer, 43% of people had enough life cover to protect their family, which fell to 26% of couples with children. Specifically, 30% of those aged 30-34 had enough life cover, compared to those aged 35-39 (35%), those in their early 40s (43%) and those in their late 40 (47%). Middle earners also did not have enough cover. HL said that while adequacy of cover tends to rise with income, only 39% of middle earners had enough cover. Sarah Coles, head of personal finance, Hargreaves Lansdown, said: "The squeezed middle, in their 30s and 4...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Individual Protection

Probate delays jump 65% for year-long cases

Probate delays jump 65% for year-long cases

Cases taking over six months rose 112%

Jaskeet Briah
clock 23 April 2024 • 2 min read
Six in 10 claims handlers want to develop technological skills

Six in 10 claims handlers want to develop technological skills

Sprout.ai research shows

Jaskeet Briah
clock 22 April 2024 • 3 min read
AFM members pay out £70m on IP claims in 2023

AFM members pay out £70m on IP claims in 2023

Claims for musculoskeletal continue to rise

Jaskeet Briah
clock 17 April 2024 • 2 min read