Don’t Have Life Insurance?

Over half of Brits don’t have life insurance

A survey of 2,000 Brits has found that most people are living without essential life insurance.

Only 45% of respondents have life cover, which means over half of UK adults risk leaving their loved ones in a precarious financial position in the event of their death. Concerningly, 15% don’t know if they are insured.

Adults over 55 are the least likely to have cover, with 36% going uninsured. Meanwhile, 25 to 34-year-olds seem to be the most aware of the benefits of life insurance, as only 5% are not covered. Moreover, 18 to 24-year-olds are the only age group to have seen an increase in policies since 2022, which is promising for Gen Z’s financial future.

The East Midlands is the area where the highest percentage of people have no life insurance (32%). On the other hand, Greater London is the most covered area, as only 12% don’t have a policy.

The survey highlighted that many Brits do not understand the requirements of life insurance. Nearly three in ten respondents believe you need to have life insurance in place to be accepted for a mortgage. It is not law, but life cover is highly recommended if you are a homeowner.

As with all insurance policies, conditions and exclusions will apply. Your home may be repossessed if you do not keep up repayments on your mortgage.

Sources:

https://www.uk-lifeinsurance.com/blog/life-insurance-in-the-uk-index-2025/