Winston Churchill once said
“If I had my way I would write the word ‘Insure‘ upon the door of every cottage and upon the blotting book of every public man, because I am convinced for sacrifices which are inconceivably small, families and estates can be protected against catastrophes which would otherwise smash them up forever. It is our duty to arrest the ghastly waste, not merely of human happiness, but of national health and strength, which follows when, through the death of a breadwinner, the frail boat in which the family are embarked, founders, and women and children of estates are left to struggle in the dark waters of a friendless world”
In 2010 almost half of Britons are jeopardising their financial futures by neglecting to take out insurance to cover loss of income through illness or death, new data shows.
Twenty four million people are thought to have no cover in place for such an event, according to research.
Those without cover who said they had considered taking out an insurance policy to provide if the main earner of a household was unable to work or died, would be underinsured by an average of £14,500 a year.
A third of people estimated that they could live on less than 35% of their take home pay if they suffered a serious injury or illness.
That equates to just £171 per week for an average earner – £300 less than the current average household expenditure of £471.
So did we listen to Churchill?…….apparently not.
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