UK Families Under Protected against Financial Losses – Nationwide

According to a research recently carried out by Nationwide, almost 47% of UK families are under protected against worst case scenario as they do not have life insurance.

What is more, 76% of families do not have critical illness cover and 75% do not have home insurance.

The proportion of those who have income protection insurance is only 17%, while other types of financial protection are only purchased by less than 40% of families.

The survey by Nationwide was carried among 1000 parents in UK.

Commenting on the results of the research, Mr. Simmonds who takes the post of protection and investments department at Nationwide, said that "these figures show how unprepared some parents are to take care of their families if the unthinkable happens... You can’t be replaced, but you can make plans today to replace the income that you would otherwise have provided for your family. Our loved ones are the most precious things to us – that’s why it’s important to protect them and the lifestyle you have helped to build for them."