Zurich: Lack of insurance leaves singletons exposed

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Zurich: Lack of insurance leaves singletons exposed

Wed 17th Dec 2008

Research by Zurich's life insurance division has revealed that single people may be putting themselves at risk because few of them have insurance.

Zurich's research showed that only one in ten singletons has critical illness cover and 92 per cent of them have no income protection insurance, despite the fact that they do not have an 'other half' to provide for them if they were incapacitated.

The study revealed that over one-third of singletons are worried about the added financial costs of being alone.

Tony Solomon, business development director at Zurich UK Life, said: "We understand that modern life can leave very little time for people to sort out their finances [but] being single in this current economic climate may be more fretful than fabulous."

LV= recently conducted research which revealed that more than one quarter of UK adults do not have any savings they could fall back on if they were incapacitated and unable to work.

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