Cost.co.uk Respond to Study Revealing Surprising Number of People Without Important Insurance Products

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Leading UK comparison site, Cost.co.uk, has responded to a new study revealing many people are exposing themselves to financial risks by ignoring important insurance.

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The worst financial situations can often creep up on us, and it is important to be prepared

A new study has found many people are failing to take out important insurance such as critical illness cover, life insurance and income protection cover – meaning they are exposing themselves to major financial risks.

The new research by Scottish Widows surveyed 5000 people in the UK and found that only 5% had income protection policy which provides cover in the event of somebody losing their job. This was despite half of workers claiming they would only be able to remain financially secure for up to 6 months.

Almost two thirds (63%) did not have life insurance, while 89% had no critical illness cover.

A spokesperson for Cost.co.uk said:

“While car insurance is mandatory and many of us understand the importance of buildings insurance, some people are burying their head in the sand when it comes to important financial protection such as income protection and life insurance cover. The worst financial situations can often creep up on us, and it is important to be prepared. We offer an easy to compare insurance deals so you can get the best deal for your money.”

Based in Essex, Cost.co.uk is one of the UK’s leading price comparison sites. Allowing their online customers to seek out great deals and offers for home insurance, car insurance, credit cards, holidays and more. Founded in 2012, the agency has a trusted reputation for sourcing the most ideal policies at affordable prices.

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Ben Austin
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