Young adults are the most likely to have considered or taken out life insurance policies since the start of the Covid-19 pandemic, according to research.
The survey of 2002 UK adults conducted in March found that 11% had either about or taken out life insurance policies.
But the study conducted by Opinium Research for Canada Life found 18 to 34-year-olds were almost twice as likely to have done so, with 19% considering or taking out life insurance over the last year.
However, men (14%) were more likely to have considered insurance than women (8%).
The research also noted that 69% of UK adults had paid closer attention to their finances since March 2020, but 63% have never thought about or do not have an active life insurance policy.
Dan Crook, protection sales director at Canada Life, said: “Talking about death is never an easy conversation, but it’s encouraging that the pandemic has prompted people to think about their own mortality and any unexpected negative financial impacts their family might experience.
“It is concerning however, that there is still a significant proportion of the population without a life insurance policy in place.
“As an industry we must do all we can to highlight the importance of protection and the peace of mind it provides, both financially and emotionally, before it’s too late.”
