Consumers in the UK are more
likely to insure their mobile phones and pets than their income in
case of ill health, reveals a report by Scottish Widows.
Specifically, the life
insurer found 12% of UK adults have insurance to protect their
income should they be unable to work because of ill health, while
15% insure their pets and 13% their mobile phones.
The lack of critical illness
cover is despite the fact 86% of adults are aware of it, noted
The situation is similar when
it comes to life insurance, of which 97% of adults are aware yet
only 44% have any. When it comes to income protection insurance,
there is an 83% awareness but a take up rate of only 7%.