Women more likely to cancel Over 50s life cover: Scottish Friendly

A study of 1,000 people aged over 50 by the mutual insurer found that 22% of customers are considering cancelling their premiums, as rising inflation is squeezing incomes and putting pressure on monthly payments. Over half (57%) of customers who took out Over 50s life insurance did so to cover the cost of their funeral, compared to 46% who took out cover to financially support their family upon their death and 9% who did so to pay off their mortgage. When attracting new customers, the research found that 35% of respondents cited guaranteed cover as the most important feature in an Ove...