The study was conducted among 2000 respondents. The survey showed that 48% of people in this age group had to give up life insurance policies; the main reasons for refusal being rising food costs (38%), expensive utility rates (36%), higher rents (26%) and low wages (20%).
More than half (53%) of those with life insurance policies bought insurance that provided for the family after the death of its breadwinner, 39% took out a policy when buying a property with a mortgage, and the rest purchased a post-mortem product that covered the funeral expenses of the family.
Source: https://www.covermagazine.co.uk/news/4120556/adults-aged-afford-life-insurance-beagle-street
Photos are from open sources.
