OP survey: Differences in the ways women and men prepare for death – income level also plays a big role

People with a family prepare for their death more commonly than people living alone. Of people aged 65 and over, around a third have made a will, and one in four have done "death cleaning".

According to a survey by OP Financial Group, nearly half of people in Finland have not prepared for their death in any way.

Death preparation correlates with age: the older the respondent, the more likely they have taken measures in anticipation of their death. While 57 per cent of 26–34-year-olds have not made any preparations for their death, the share among respondents aged 65 and over drops to only around a third.

"When you're young, death seems a distant thing, and that's good, of course. However, it's a good idea to start making preparations at the latest when you have children or jointly own a home with another person," says Kristiina Michelsson, CEO of OP Life Assurance Company.

Men and women also prepare for death in different ways: 48 per cent of the male respondents had not taken any preparatory measures compared to 41 per cent of female respondents. This difference was highlighted among 65–79-year olds. In this age group, a quarter of women but 38 per cent of men had not made any preparations.

People with a family prepare for their death more commonly than people living alone

The household size affects the level of preparedness. In households of two, people prepared for death considerably more frequently than in households of one. In households with at least three members, respondents were increasingly likely to have taken measures in preparation for their death.

Among the survey respondents aged 35–49, around half of those living in households of one or two people had not prepared for their death in any way. This was true for only one in four respondents living in households with three or more members.

"Having a child often makes you consider how the family will cope if something happens to you. For example, many people don't realise that common-law partners don't automatically inherit from each other. If there's no will or life insurance, a person who loses their common-law partner often has to cope not only with emotional loss but also with considerable financial hardship," says Michelsson.

Older people prepare with a will, younger people with insurance – income level also plays a role

In the 65-plus age group, a will is the most common way of preparing for death. In turn, younger people usually prepare with life insurance or another type of insurance from which a benefit is paid in the event of death.

Around one in three respondents aged 65–79 said they had drawn up a will. It was especially common among the age group's wealthier respondents: 37 per cent of those earning more than 40,000 euros had drawn up a will, compared to 28 per cent of those earning less.

People who share a household with another person are also more likely to draw up a will than those living alone. In households of one, 28 per cent had a will, while in households of two, this was true for 39 per cent.

In addition, one in four 65–79-year-olds said they had done "death cleaning" – going through their things or organising important documents. Nearly one in ten said they had planned their funeral.

"These are practical ways of easing the burden on loved ones in a difficult situation, and they naturally enter your mind in later years. However, the same selfless approach can also be adopted at a younger age by discussing preparations with your loved ones, drawing up a will or taking out insurance," says Michelsson.

Media enquiries:

OP Financial Group Corporate Communications, tel. 010 252 8719, viestinta@op.fi

The OP Financial Group's survey in November 2024 was answered by a nationally representative online panel of 16–80-year-olds in Finland (n=3,748). The number of respondents varies by question. The survey was conducted for OP Financial Group by Taloustutkimus. The margin of error is plus or minus 1.6 percentage points for the entire respondent group.