Summary

There are still lots of families without life insurance ( secured loans ) cover. This article investigates the reasons.

Why does less than half the UK population have cover? Page 2

Author: Michael Challiner

People can also be put off by the application process. Whilst about 30% of applicants will

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receive a decision almost straight away, for others the process can become one delay after another. As if a 16 page application form were not enough, some people are being faced with more forms to complete plus medical examinations. The whole ( medical insurance ) process can take up to 8 weeks, even more, before the applicant knows precisely how much their premium will be. If that works out more that they can simply afford, they're often too fed up of the whole application process to start again with a new insurance company. That leaves yet another family without insurance.

Despite these problems, the life insurance companies claim that thanks to more ( home insurance quotes ) sophisticated underwriting procedures, premiums are lower today that they were a few years ago. Furthermore, around 10% of life insurance is bought on the Internet where discounting has become the norm. This too has helped push average premiums down.

Nevertheless, in the author's view it will take many years to get ( life insurance quotations ) people covered by life insurance above the 50% mark.