New research on behalf of Compare Cover, the life insurance comparison website, has revealed that almost a quarter of UK adults would be more likely to buy life insurance if it was called ‘Family Protection Insurance’ instead.
It seems family really does come first for many Brits after 24 percent of those questioned said they’d be more likely to take out cover if it was retitled accordingly. Seven percent said they would be more inclined to buy if it was called ‘Dependant Cover’, while another seven percent said they would be more likely to buy life insurance if it was packaged more simply as ‘Mortgage Insurance’.
Only five percent would be willing to take the direct approach and take out a policy entitled ‘Death Insurance’, while a fifth (20 percent) said they would not consider buying life insurance. Less than half (44 percent) said the alternatives offered would not make any difference to their buying habits.
Spokesman, Mike Preston, said: “What is perhaps most interesting to note about these results is the level of emotional attachment UK consumers have with regards to all aspects of their domestic set up, even down to the provision of life insurance policies.
“For some, life policies are possibly regarded as a necessity, but a significant proportion appear to find the process of taking out life insurance an emotionally compelling one, reflecting a need for providers within the industry to potentially consider a more family friendly approach.”
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