More than half of secondary school pupils think health insurance will be essential for them in 20 years time, a survey of 1,000 children has found.
The Insurance Uncovered: Why Financial Literacy Must Include Insurance Education for the Next Generation report by SSP Broker quizzed 1,000 children aged 12 to 16 about insurance.
It found 51% thought health insurance would be needed in 20 years. This ranked only marginally behind home (54%) and car (61%) insurance.
The research also found 32% of the children polled thought health insurance was a legal requirement in the UK.
And fewer than one in five (18%) had learned about insurance in school, while 15% said they had not learned anything about it at all.
Most young people’s understanding of insurance came through social media, TV, or family members.
While 75% would turn to their family for insurance advice, only 26% said they would approach an insurer or broker.
However, more positively 69% of surveyed teens said they might consider a career in insurance.
Key recommendations
Consequently, the report made a number of key recommendations calling on both the government and the insurance industry to collaborate on solutions.
They include:
- Integrating insurance education into the national curriculum, especially during key life milestones like learning to drive.
- Launching a national partnership between insurers, educators, and policymakers to build classroom-ready resources.
- Creating engaging digital content for platforms like TikTok, Instagram, and YouTube to meet young audiences where they already seek information.
- Expanding career outreach, including school talks, internships, and digital “day-in-the-life” videos from real professionals.
Martyn Mathews, managing director of SSP Broker, warned the lack of education and information shared with young people was a risk for them.
“We’re handing young people the keys to financial adulthood without explaining how to steer,“ he said.
“This isn’t just an education gap, it’s a risk to their financial futures and to the trust in our industry.
“We all benefit by increasing educational efforts around insurance and sharing the message that insurance is big data personified,” added Mathews.
“The industry will be fuelled with a generation of new ideas, young people are given a new avenue of employment, and the products on offer will better suit new waves of consumers.”
Protecting what matters
Laura Wharfe, ACII chartered insurer, career and talent lead at the Chartered Insurance Institute, said: “We firmly believe that insurance education should not just be about understanding policies – its about equipping young people with the knowledge to protect what matters most and to see the substantial role our profession plays in society.
“This research shows both the urgency and the opportunity, by embedding insurance into financial education and ensuring the sector is promoted more visibly in schools as a career of choice and one that offers a fulfilling professional pathway.
“By working together to deliver this, we can build financial resilience among young people while strengthening public trust and inspiring a new generation of professionals to join a sector that truly makes a difference.”
