Nearly half of people in a relationship would struggle with bills early after a death, while the sector takes an average three month to pay out a life policy.
Research by RGA found that, of 1277 individuals in relationships, 47% think they would either struggle or be unable to pay all the rent/ mortgage or household bills in the first month after their partner died.
RGA also found 83% of consumers thought a provider should have paid a death claim within a month of the death (based on 1793 individuals) while 41% of consumers believed the claim should be settled within two weeks.
Previous RGA research has shown that the average time to settle a single life death claim is around three months.
Mick James, Business Development Manager at RGA, commented that "Clearly there is a disconnect between consumer expectations and the reality of the current claims process.
"The industry has been taking steps to improve this situation by introducing more indemnified claims payments but more could be done in this area to help our customers.
"RGA is working through ILAG1 to develop practical potential solutions to remedy this issue. "
Research found women would be more likely to face hardship, 57% would be unable to or would struggle to pay their rent/ mortgage, household bills.
People aged 35-54 were the most vulnerable group with 58% of this group unable or struggling to pay in the first month post bereavement.
James said: It is clear that many households in Great Britain will face an immediate financial struggle in the event of a partner's death and this reinforces the value of having a life insurance policy in place, to cover both the immediate and subsequent financial issues associated with bereavement."
