Savings trump life cover for over 50s during pandemic

The results of a survey of over 2,000 UK adults over 50 years of age, conducted by Opinium in January and February this year, show that just over half of respondents (52%) prioritised putting money into savings instead of paying for life cover. Despite these varying levels of coverage, three in 10 over-50s stated that it was "more important than ever" to have life insurance in place, rising to 47% among those with a mortgage still to pay, indicating that still having costs to pay on a home is a key factor in the decision. Cost was stated as factor for one in eight (13%) who struggle t...