GOING WITHOUT A DAILY COFFEE IS MORE THAN MY LIFE IS WORTH
Confused.com reveals the things Brits’ consider more important than insuring their own lives New research from Confused.com has revealed that only four in ten adults have life insurance, with 30% of people claiming that they don’t have it because they can’t afford it. Worryingly, of those without life insurance, 35% have children and 69% are in a relationship, meaning loved ones would be left financially disadvantaged should the worst happen. With life insurance available from just 17p a day1, the comparison site has found that in fact it’s more a question of prioritisation than affordability. Research has shown that of those without life insurance: • 76% spend money each month on their mobile phone Tariffs are available from £5 a month for a basic phone, £25 per month for an iphone 4 (if you pay extra for the handset) and £45 per month for an iphone 4 with free handset – significantly more than life insurance • 11% spend money each month on mobile phone insurance • 7% buy a posh coffee or tea every day at work A Starbucks filter coffee costs £1.80 – that’s over 10 times more than a life insurance policy • 55% buy new clothes every month • 27% spend money every month on music and dvd downloads Recent release Letters to Juliet on itunes is £9.993 • 17% pay a monthly gym membership fee At fitness first monthly memberships are available from £35.95 per month4 • 7% spend money on appliance insurance or extended warranties • 16% buy lunch at work every day A boots meal deal costs £2.99, £2.82 more than a life insurance policy Matthew Lloyd, head of life insurance at Confused.com, said: “It’s worrying that a third of people are blaming the cost for not having any life insurance when they spend so much money on other things, which are arguably less important than life insurance, each month. Any change in life circumstance, such as getting married or starting a family should be a trigger for reviewing life insurance needs, and it’s a concern that so many people without insurance are in these groups. Life insurance isn’t expensive, and a small sacrifice, like giving up a posh coffee once a week, could make a big difference in the event that the worst happened.” Ends Notes to editors 1 Life insurance available from 17p per day at Confused.com, based on X (ask Matt – figures taken from website 2 http://store.apple.com/uk/browse/home/shop_iphone/family/iphone 3 Based on Letters to Juliet, price correct as at 12 October 2010 4https://www.fitnessfirst.co.uk/Membership-Registration/Index.aspx For further information: Confused.com press office 02920 434393 firstname.lastname@example.org About Confused.com Confused.com is one of the UK’s biggest and most popular price comparison services. Launched in 2002, it generates over one million quotes per month. It has expanded its range of comparison products over the last couple of years to include home insurance, travel insurance, pet insurance, van insurance, motorbike insurance, breakdown cover and energy, as well as financial services products including credit cards, loans, mortgages and life insurance. Confused.com is not a supplier, insurance company or broker. It provides a free, objective and unbiased comparison service. By using cutting-edge technology, it has developed a series of intelligent web-based solutions that evaluate a number of risk factors to help customers with their decision-making, subsequently finding them great deals on a wide-range of insurance products, financial services, utilities and more. Confused.com’s service is based on the most up-to-date information provided by UK suppliers and industry regulators. Confused.com is owned by the Admiral Group plc. Admiral listed on the London Stock Exchange in September 2004. Confused.com is regulated by the FSA.