It might not be something that you want to consider, but life insurance plays an important role in planning for your family’s financial future. We explored all of the latest statistics to find out how prepared the UK is for death. After all, as Benjamin Franklin said, “In this world nothing can be said to be certain, except death and taxes”.
The latest stats
How big is life insurance in the UK?
Life insurance falls under the broader category of protection insurance. Protection insurance includes life insurance but also other types of insurance such as income protection and serious illness insurance.
25.2 million protection insurance policies in place in the UK in 2018.
535,000 collective life policies – in addition to the 25.2 million protection policies already in place.
2.1 million new collective and individual life policies taken out in 2017.
12.1 million members of group life insurance cover of some form in the UK 2018.
Esther Wolffowitz is a publisher at finder.com. She is a specialist in insurance and wants to help UK consumers make better decisions. Esther holds an MSc in Media and Communication Governance from the London School of Economics and Political Science (LSE). In her spare time, she enjoys discovering new restaurants and food markets in London.
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