Latest survey to reveal nation's animal lovers fail to protect their own family's lifestyle
More proof that individuals continue to choose to purchase pet insurance than protection products is revealed in research published this week.
A survey carried out for Ageas Protect shows that less than one in ten (9%) people have a critical illness (CI) policy in place – equivalent to 4.5 million adults – while 12% have taken out a pet insurance policy, equating to 5.9 million adults. The Opinium survey of over 2,000 adults suggests that one fifth of parents stated they would have to rely on savings if they were to fall seriously ill.
Earlier this month Friends Life published research which suggests that while 14% of people would automatically take out pet insurance, just 10% would take out CI cover. Research carried out for Scottish Widows last year, meanwhile, showed that across the UK just 7% of people have income protection insurance, compared to 15% who have taken out pet insurance.
A study carried out last year by unbiased.co.uk, the professional advice website, suggests that more than one in four (27%) UK adults hope to leave enough money for their family or pets to live comfortably after they are gone. However, an estimated 29.5 million UK adults do not have a will in place.
Free advice on critical illness
Thursday, 2 February 2012
Wednesday, 1 February 2012
Why use an insurance broker?
Consumers find protection among hardest products to understand
Only pensions rank lower for clarity among mainstream financial services products
Protection is among the hardest of all mainstream financial services products for consumers to understand, according to research published this week.
In a survey of 2,500 people for the Association of British Insurers (ABI), payment protection insurance (PPI) and critical illness (CI) cover ranked the lowest in terms of understanding.
Just over half (52% of respondents to the survey rated their understanding of PPI at 5 or below (out of ten), while even less (36%) rated their understanding at five or below.
Among the widely-held financial services products included in the survey, only pensions (31%) ranked lower.
Respondents were most comfortable comparing the features of motor/van insurance and savings/current accounts, with 52% ranking each at 7 out of ten or above. Respondents again ranked PPI, as well as mortgage payment protection insurance, and CI cover bottom in terms of product comparisons, with pensions and annuities also receiving lower ratings.
For free advice on critical illness products
Only pensions rank lower for clarity among mainstream financial services products
Protection is among the hardest of all mainstream financial services products for consumers to understand, according to research published this week.
In a survey of 2,500 people for the Association of British Insurers (ABI), payment protection insurance (PPI) and critical illness (CI) cover ranked the lowest in terms of understanding.
Just over half (52% of respondents to the survey rated their understanding of PPI at 5 or below (out of ten), while even less (36%) rated their understanding at five or below.
Among the widely-held financial services products included in the survey, only pensions (31%) ranked lower.
Respondents were most comfortable comparing the features of motor/van insurance and savings/current accounts, with 52% ranking each at 7 out of ten or above. Respondents again ranked PPI, as well as mortgage payment protection insurance, and CI cover bottom in terms of product comparisons, with pensions and annuities also receiving lower ratings.
For free advice on critical illness products
Subscribe to:
Posts (Atom)