Unmarried couples at risk of missing life insurance pay outs

Advisers reminded they have 'a crucial role to play' to address the issue

John Brazier
clock • 1 min read

Around one in two unmarried couples are at risk of losing out on life insurance policy pay outs as they have not made the proper arrangements, according to new research from Scottish Widows.

While 43% of 2,000 British adults surveyed who are in a relationship but not married said their partner has made no plans to ensure they are legally entitled to their life insurance pay-out, 48% said they were unaware if their partner had a life insurance policy. Of the 52% that are aware of their spouse's life cover, around one quarter (27%) said they did not know the valuation of the policy. Meanwhile, around one third (34%) of respondents stated they rarely discuss long-term financial planning with their partner as it is deemed "unnecessary, awkward, or simply too difficult," incre...

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