Putting your Head in Sand Regarding Life Insurance can Spell Disaster

Wednesday, March 17, 2010

It is one of the most depressing things to think about but terrible events can happen to really good people. It is safe to say that most people reading this will know of someone, be they family, neighbour or close friend, who has befallen disaster at some point in their lives. This can take the form of a terminal illness or sudden accident that could lead to a serious loss of income or in the worst case, death.

It is surprising, that armed with this knowledge, most of us carry on with our lives thinking that these dreadful things are unlikely to happen to us. Why not us?

Recent research has suggested that over 60 per cent of people living in Britain have not given much thought to the fact that accidents, illness or death and the resulting loss of income would prove more than disastrous for dependents. Last year, Scottish Provident’s research also pointed out that 66 per cent of us do not have adequate provision in the case of redundancy and 65 per cent would be seriously affected if the main breadwinner was out of work for six months.

Interestingly though, those that had insurance cover stated that they felt less likely to be affected financially if the main breadwinner passed away or suffered a terminal illness resulting in the inability to work.

The adage of ‘it will never happen to you’ is just not worth the risk. When we face up to the realities of life, we all know that deep down, the worst can happen to anyone.


Ralph Garard