13,600 parents with children under 18 years old die every year, which means that every 22 minutes a child loses a parent in the UK (Child Bereavement UK, 2018).
Yet, 64% of people think that life insurance is too expensive, according to a recent study. However, swapping your morning coffee for life insurance could help paying for food, mortgage or rent, utility bills, child care, school and everyday expenses for your children. In fact, life insurance can be as cheap as £10 a month.
The following 3 key trends for 2018 concern both customers and life insurers:
Simplifying The Process Of Buying Life Insurance
Tedious and time consuming buying processes is one of the main reasons why a large percentage of mums do not have life insurance coverage.
Although details on the clients’ health & medical history, smoking habits, family history, hobbies and occupation are necessary to determine the eligibility and price of life insurance coverage; 2018 will see a simplification on the life insurance buying process.
Buy Life Insurance From the Comforts Of Your Home
Buying life insurance used to be a face to face activity, similarly to buying holidays in travel agencies. Nowadays, you can buy life insurance from the comforts of your home or while travelling to work, either online and/or over the phone.
Shop For Life Insurance Online
Digitally savvy mums are now requesting a safe digital access to products and services. Responding to this demand, finance protection brokers such as Busy Bee and Life Insurance Finder are now approaching their customers online.
The online channel is therefore used to obtain more information about you so FCA registered advisers can provide you with free advice on the best policies depending on your specific needs and circumstances.