Our data has shown that people aged 25-34 are most likely to take out life insurance, with more than 45% of our customers over the quarter forming part of this age group. This may be surprising but actually this corresponds to the fact that many people tend to make major life decisions around this time, such as buying a house, getting married or starting a family, and understandably you want to protect these important areas of your life.
The UK’s life insurance hotspot…
Daniel Hutson, our Head of Life Insurance, commented:
“We know that buying a house or starting a family are key triggers to buying life insurance, and so it’s unsurprising to see that those aged 25 – 34 account for almost half of life insurance policies. It’s interesting to see that the largest proportion of purchases was for cover over £250,000 – which could reflect the increasing house prices. "
“The South East remains the life insurance hotspot for the UK – the region’s relative affluence and high proportion of home owners make it a lucrative market for life insurance providers. As with all products, it is important that you regularly review your policy to ensure that you are not paying over the odds, and that your current policy is still suitable for your requirements."