Not having life insurance comes at a cost

Death rates are still higher than pre-pandemic¹ levels, yet 48% of adults aged 18-40 do not have life insurance. This puts many in a precarious position, as the unfortunate reality is that the cost of dying is high.


Research has found that, in Great Britain, a premature death can cost surviving family members an average of £195,475 over the course of ten years2. These estimates are based on the hypothetical basis that someone leaves behind a partner and two children. The figure fluctuates depending on the location – London is the most expensive area (£261,754), while North East England is the cheapest (£130,160).


Higher funeral costs

Of the adults under 40 who do have life insurance, 27% said they took it out to pay for a funeral. This is an important cost to consider, as a recent report has found that funeral expenses are higher than ever (£9,658) ³.


Mitigate the pressure on loved ones

Whatever your age, it is advisable to seriously consider taking out life insurance if you have dependents. Planning now could significantly alleviate the stress on your loved ones, should anything happen.


We can find the appropriate level of cover based on your specific circumstances – get in touch.


As with all insurance policies, conditions and exclusions will apply.


² Beagle Street

³ SunLife

4 April, 2024

More news

20 May, 2024

It was a disappointing Spring Budget for anyone looking to get onto the housing ladder. There was a
Just a few days ahead of the key fiscal event, the Chancellor had already scrapped plans for 99% loan-to-value (LTV) mortgages for first-time buyers following resistance from the banking community. Th

16 May, 2024

Eager home sellers got the year off to a good start before it had even begun, with over 10,000 prope
Sellers were not the only ones returning to the market – at the start of the year, buyer enquiries were up by 7% when compared with the same period in 2023. This translated into 16% more sales agree

13 May, 2024

In a survey of UK workers, 37% of respondents thought life insurance and income protection cost more
This is a significant oversight considering that 40% stated that affordability was key when deciding on a policy. Those surveyed estimated income protection to cost £35.20 per month, but the average