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Many families underinsured due to cost misconceptions

Economy & businessEconomy
Key Points
  • Many families are underinsured due to misconceptions about cost.
  • Life insurance and critical illness cover can cost as little as £1 a day.
  • Younger adults can get life insurance from £5 to £10 per month.

According to Daily Express - Finance, Eatenton described that life insurance and critical illness cover can cost as little as £1 a day. Younger adults are often surprised to learn that life insurance can start from £5 to £10 per month. Some insurers offer bolt-ons for an extra £10 a month to get critical illness cover for both the policyholder and their children, up to £2 million.

Eatenton noted that people often spend more on coffees, takeaways, or subscriptions than on insurance, yet that same policy could be the difference between a family coping financially or falling apart after illness or death.

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