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Despite rising levels of financial commitment, British adults are rejecting the peace of mind offered by life insurance, a new study has found.

A YouGov poll of more than 2,000 people, conducted on behalf of beaglestreet.com discovered that 55 per cent of adults do not have life cover, despite the protection it offers for family members who could struggle financially or even lose their home in the event of a death.

Cost was the primary barrier to purchasing cover, with 39 per cent of those without life insurance saying ‘It’s too expensive’. Worryingly, almost one in five people, at 19 per cent, said that they have ‘never thought about it’. The research also highlighted that certain groups of people are more likely to lack cover – even though they may in fact have a greater need. For example, 61 per cent of divorced/separated adults had no life insurance, and those living with a partner were more likely not to have a policy (55% said they had no cover)...

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