Life cover not a priority expense for mortgage holders

22% had never thought about life insurance

Jaskeet Briah
clock • 1 min read

Nearly three in 10 (28%) adults with a mortgage do not have life cover, with 23% of these saying they do not currently see it as a priority expense, according to Beagle Street.

The insurance provider surveyed 2,000 UK adults aged between 18-40 on their attitudes and behaviours towards life insurance. Of those with a mortgage, one fifth (22%) had never thought about life insurance, while the same proportion (22%) said the cost-of-living crisis has meant they do not have enough money to pay for it and 19% said they cannot afford life cover. For mortgage holders looking to buy life cover, the most common source was speaking to a financial adviser (44%), with 16% having gone directly to a provider. In 2023 there was more than £433 billion of mortgage debt not...

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