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TODAY'S OTHER NEWS

Only a quarter of private renters  have life insurance

We all know that life insurance is important, but many of us choose to ignore the reality of what would happen if we were to die suddenly without proper protection. 

If you do not currently have a life insurance policy, you are not alone. Many people in this country do not own a life insurance policy in any amount, with private renters among the worst culprits. 

Only a quarter - 25% - of people who are renting from private landlords have life insurance, fresh research shows. 

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According to Sainsbury’s Bank, 13% of those who rent from a private landlord worry about the financial implications for their family if they were to die before old age at least once a month, with 8% even worrying daily. This is rather concerning given that around 15% of the people in the UK are living in a property rented from a private landlord. 

Sainsbury’s Bank is urging landlords to encourage tenants to take action and take out a life insurance policy rather than worrying about what could happen if the worst were to happen. 

Karen Hogg, head of insurance at Sainsbury’s Bank, said: “Protecting your loved ones is an important priority for many families. Therefore it’s worrying that many people who rent do not have financial protection in place should they fall critically ill or pass away unexpectedly. 

“Making sure your tenants are aware of the importance of life insurance is a responsible thing to do as a landlord. It will help to give your tenants peace of mind knowing their family is in safe hands.”

 

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Poll: Do you have life insurance?

PLACE YOUR VOTE BELOW

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    Life insurance might cost a 25 year old upwards of £10 per month. That's almost 4 costa lot coffees. No wonder the uptake is low among GR. After all, insuring their profligate lifestyles must come before insuring their lives!

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    • 27 August 2019 11:26 AM

    Apparently GR DOESN'T have sufficient resources to buy because they are using them to buy .......................cocaine.
    One bright spark from the idiotic GR cheerfully admitted having spent £70000 over a 5 year period on the white stuff!!
    That would have made an excellent deposit.
    But as with most things life is all about choices.
    GR makes the wrong ones but blames LL for their bad choices and the idiotic politicians listen to them.
    Apparently London has the highest cocaine use in the UK.
    How do they know this?
    By testing sewage effluent!!
    Whatever goes in eventually comes out!!
    I've never had sufficient resources for cocaine or Costa lot coffee but I did save hard what resources I had and managed to buy on my own 2 resi houses.
    Made sufficient PROFIT on the 1st one after sale to afford a more expensive one.
    Meant more borrowing.
    Don't remember ever buying an expensive coffee while saving hard to achieve this!
    But of course it was all a bit boring but shows what can be achieved if one can be bothered!!
    Clearly GR AREN'T!!
    Not much point in life insurance if a tenant.
    The State will be there to pay HB etc.
    WITHOUT a stake in property no point in saving so a profligate lifestyle ei be bailed out by the State.

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    Hang on it’s now MY responsibility to advise tenants to take out life insurance acc to Karen at Sainsbury’s Bank.
    Is this some sort of wind up? Should I be also there to ensure they have Bupa cover and travel insurance for their mini breaks as well?

    You know if it carries on like this there will be suggestions that after 2 yrs tenancy we should provide them with a full deposit for a new house as we have subjected them to having to live in the ones we provide. Against Human rights or something

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