A poll by Legal & General has discovered that 65 per cent of people think life insurance is more expensive than it is.
According to the survey, two-thirds of people over-estimated the cost of taking out £150,000 worth of life cover while 35 per cent had an inflated sense of the cost of adding a critical illness option to that life cover.
Karen Blatchford, commercial director for housing at Legal & General, said it is cause for concern that only 38 per cent of the people surveyed had life insurance, especially as cover can start from as little as £6 per month.
"Most families would really struggle if there was an unexpected drop in the household income," she added.
Ms Blatchford also advised that people may wish to consider covering their family expenditure and bills as well as their mortgage debt.
Conversely, one of the biggest mistakes you can make when purchasing a new car is to underestimate the cost of insurance, according to autocreditexpress.com
Compare prices from lots of car insurance websites with our car insurance quote system. |
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