Brits Prefer Luxuries to Life Insurance

According to the latest Aviva Family Finances Report, the majority of Brits think that luxuries such as family holiday are more important than life insurance.

As such, only 3% of those questioned by Aviva were planning to buy life assurance, whereas as many as 21% of Brits were going to book their annual holiday.

Furthermore, 50% of Brits are paying 35 pounds a month for satellite TV, whereas only 40% are willing to sacrifice 20 pounds a month for life insurance.

Commenting on the findings, Louise Colley, head of marketing and protection sales at Aviva, said: "No one likes to dwell on poor health or mortality, but by denying that illness - or worse - is even a possibility, people are stopping themselves putting measures in place to protect their loved ones." She also highlighted that many Brits prefer not to discuss debts or overall financial situation with their families.

"Too many people assume that someone else will step in and look after their families if they weren't there to provide for them, but the reality is very different," she said.