Tesco Insurance has found that 67% of UK adults do not fully understand what a death in service benefit is.
According to a survey of 2,008 consumers under the age of 55, of which 1,031 were homeowners with a current mortgage, 30% have never heard of death in service, while 12% have heard of it but did not understand it. Tesco said this is sparking fears that many employees could be missing out on vital protection and leaving loved ones at risk if the worst were to happen. Those who have the benefit were also struggling to understand what it means for them; of the respondents who had death in service, 19% did not understand it and 22% did not know how much it is worth. However, having the...
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