22% of adults without children delay taking out protection: L&G

11% were putting off financial decisions until marriage

Jaskeet Briah
clock • 2 min read

Two out of five (21%) UK adults who have not started a family yet said this was a reason for putting of financial decisions, including taking out protection (22%), according to Legal & General (L&G).

The provider surveyed 2,000 UK adults and found that overall, five million households without children were lacking either life insurance, pensions or savings. The research found that 6.5 million (12%) adults were waiting until marriage, becoming parents or owning a home to engage with financial products, including life insurance, pensions or savings. Specifically, 11% were putting off these decisions until they got married and 17% were waiting until they purchased their own home. Analysis of official records found that the average age at which adults buy a home (34 years old) and ...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Individual Protection

Consumer Duty remains the biggest opportunity to expand protection

Consumer Duty remains the biggest opportunity to expand protection

"It is very easy to get bogged down in the regulatory requirements"

Andrew Gething
clock 18 November 2024 • 4 min read
NHS waiting list records drop in September

NHS waiting list records drop in September

A&E under strain

Jaskeet Briah
clock 15 November 2024 • 2 min read
COVER Protection and Health Summit 2024: In pictures

COVER Protection and Health Summit 2024: In pictures

Event on 07 November

COVER
clock 13 November 2024 • 1 min read