More young people are ignoring life cover

Between January 2006 and January 2007, income protection sales remained flat, critical illness cover sales rose by 18% and sales of family income benefit policies rose by 83%. A separate survey for Lifesearch of 1,001 UK adults with protection insurance reveals young people (aged 18-29) without dependents are almost six times more likely to insure their life (74%) than their income (13%). Just 12% said they had purchased the product which they felt best suited their personal circumstances, while 37% based their buying decision primarily on price alone, rather than comprehensiveness of c...