Karen Blatchford, Commercial Director for Housing at Legal & General said: “Life cover can start from as little as £6 per month, which even families on a very tight budget may be able to afford. We’re concerned that two-thirds of people are over-estimating the costs of protection.”
£150,000 level term assurance over 25 years for a healthy, non-smoking man aged 25 would cost just £82 per month. 24% of people that Legal & General questioned thought that it would cost between £11 and £20, 18% thought that it would cost £21 - £30 and 22% thought over £30.
Adding critical illness cover for the 25 year old man would cost a further £18 a month. 14% of people that Legal & General spoke to incorrectly estimated between £21 to £30 and 23% said it would be more than £30.
Karen Blatchford adds: “Just 38% of the people we surveyed have http://www.legalandgeneral.com/
Ends
Notes to Editors:
1. All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 1,964 adults. Fieldwork was undertaken between 18th - 21st July 2008. The survey was carried out online. The figures have been weighted and are representative of all GB adults (aged 18+)
2. Based on Legal & General Direct rates. Correct as at 15 August 2008. Assumes applicant is healthy and therefore based on standard premiums.
1) This press release is issued by Legal & General Partnership Services Limited. Registered office: One Coleman Street, London EC2R 5AA.
2) The information contained in Legal & General’s press release is intended solely for journalists and should not be used by consumers to make financial decisions.
The Publicity Team
Legal & General House
Kingswood
Tadworth
Surrey KT20 6EU
01737 375351
Joe.wiggins@
website: http://www.legalandgeneral.com
