Vitality: Unemployment biggest driver for cancelled life insurance

Financial pressures still front of mind

Laura Miller
clock • 2 min read

Losing a job is the single biggest reason a policyholder will cancel their life insurance, according to research by VitalityLife.

Inflation may have reached its lowest level in two years, but the study from VitalityLife has found financial pressures are still front of mind for many, particularly when considering cancelling or purchasing life insurance. In a survey of 2,000 people, the insurer found more than half of UK adults (56%) would never consider cancelling their life insurance policy. But there was also a consistent link between financial security and insurance decisions. Of those who would consider cancelling a life insurance policy, losing their job was the biggest reason (13%). This was closely followe...

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