Many young mortgage holders do not have life cover
Home >
All >
Many young mortgage holders do not have life cover
Research has found that 28% of young UK homeowners do not have life insurance1.
It is estimated that 1.7 million adults aged 18-40 do not have appropriate cover in place, despite having a mortgage. This oversight puts their dependants in a precarious financial position in the event of their death.
Why risk it?
Of those homeowners who do not have life insurance, nearly a quarter (23%) said they do not believe it is a priority expense. Meanwhile, 22% said they never considered it and the same amount could not afford cover due to the cost-of-living crisis.
Uncovered debt in the UK
In 2023, there was thought to be over £433bn in uninsured mortgage debt in the UK. This concerning figure suggests that many people would be left unsupported if a loved one died, potentially making it difficult for them to stay living in their home.
Make cover a priority
Living without the right protection could put unnecessary financial pressure on your loved ones at an already distressing time. Life cover should be a priority expense, even when you’re young. Speak to us now to get insured.
1Beagle Street, 2024
It is important to take professional advice before making any decision relating to your personal finances. Information within this document is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK. We cannot assume legal liability for any errors or omissions it might contain. Levels and bases of, and reliefs from, taxation are those currently applying or proposed and are subject to change; their value depends on the individual circumstances of the investor. No part of this document may be reproduced in any manner without prior permission.
The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated. If you withdraw from an investment in the early years, you may not get back the full amount you invested. Changes in the rates of exchange may have an adverse effect on the value or price of an investment in sterling terms if it is denominated in a foreign currency.
Information is based on our understanding of taxation legislation and regulations. Any levels and bases of, and reliefs from, taxation are subject to change.
Tax treatment is based on individual circumstances and may be subject to change in the future.
Other Insights of interest
25th June, 2025
Residential Property Review – June 2025
May sales hit post-2022 high as housing market regains momentum Rightmove says May 2025 was…
Read full insight
25th June, 2025
Commercial Property Market Review – June 2025
City investment rebounds with biggest deal in over a year as recovery continues London City’s…
Read full insight
17th June, 2025
Closing the investing gap
A recent report1 estimates 13 million UK adults are sitting on £430bn of cash savings….
Read full insight
11th June, 2025
Four in five clients see financial advice as ‘value for money’
People with a financial adviser are more optimistic about their financial future. That’s one of…
Read full insight