1 in 3 people over 55 not making educated financial decisions
New research* has revealed that nearly 1 in 3 Brits aged 55 plus do not understand the difference between a funeral plan and over 50s life insurance – meaning they could be making the wrong decision in relation to their funeral planning.The survey highlighted people’s misconceptions about certain products with: · 23.8% not understanding what an over 50s life insurance plan provides. · 11% of respondents wrongly believing that an over 50s life insurance policy guarantees to pay your funeral costs. · 32% unaware of the difference between a funeral plan and over 50s life