When quizzed over the reasons why they do not have life insurance in place, a quarter (25%) of people said that they did not have dependants who would be financially reliant on the pay out from such a policy. A slightly smaller percentage (23%) claimed that they had never thought about arranging life insurance.
Meanwhile, just over one in five (21%) people said they went without cover because they believe it does not represent value for money. "People have a natural blindspot around life insurance that means they often don't want to think about it," said Rob Clarkson, general insurance and relationships director at Barclays Bank.
"However, there are also some key events in their lives, like having children, which lead to taking out insurance. "Life insurance can be really valuable but many people are put off by the thought of it being expensive or complicated."
Expense, however, is not really an issue.
The half of the nation which is financially unprotected should the worst happen might like to take note of some of the terrific life insurance deals that are currently available. Monthly premiums for Barclays Simplified Life Insurance start from only £5 a month, with a 10% discount available when applying online. A £15 Marks & Spencer voucher will also be rewarded when you make your third monthly payment.
The Post Office's Life Insurance also starts at £5 a month, while cover for those over the age of 50 is available from £7 per month. Alternatively, take out a life insurance policy with Tesco Life and you will receive a free £50 gift card. For the latest updates PRESS CTR + D or visit Stock Market news Today
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