Funeral costs biggest trigger for life insurance purchases in over 50's

OneFamily research shows

John Brazier
clock • 2 min read
Funeral costs biggest trigger for life insurance purchases in over 50's

Mutual society OneFamily finds that covering the cost of funerals and the need to protect families are the main reasons for over 50s buying life insurance.

Research conduct in August this year among 2,000 UK adults aged 50 or older found that 40% said that they didn't want family members to have to pay funeral expenses, while 30% said they have bought life insurance as they are approaching later life. Meanwhile, the need to protect their family (28%) was also identified as a main trigger for seeking out life insurance. The mutual found that around two in five (22%) over 50's currently have a life insurance policy, while the same percentage are...

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