Insurance experts reveal global consumers confused over life insurance cover
The experts at international insurance provider William-Russell have discovered the most commonly asked life insurance dilemmas across the globe.
The pandemic has led to a notable increase in sales of life insurance cover, but many people all over the world have no idea what life insurance is and why they need it.
The study analysed Google searches in the UK and globally for life insurance related queries to reveal the most commonly asked life insurance questions.
The Most Common Life Insurance Questions in the World:
With over 100,000 global searches, ‘how much life insurance do I need’ is the biggest dilemma the world finds itself in when it comes to life insurance.
Interestingly, overall, ‘life insurance for parents’ comes in second with over 44,000 searches globally.
|
Life Insurance Searches |
Annual Global Search Volume |
|
How much life insurance do I need |
115,100.00 |
|
Life insurance for parents |
44,100.00 |
|
What does life insurance cover |
34,900.00 |
|
Do I need life insurance for a mortgage |
10,440.00 |
|
Can I have more than one life insurance policy |
5,730.00 |
|
What life insurance should I get |
5,650.00 |
|
Can you cash out a life insurance policy |
4,900.00 |
|
Are life insurance payouts taxable |
4,860.00 |
|
How life insurance premium is calculated |
4,790.00 |
|
What life insurance do I need for mortgage |
1,440.00 |
|
Are life insurance policies worth it |
1,420.00 |
|
Can life insurance be denied |
940 |
|
Can life insurance access medical records |
470 |
|
Can life insurance refuse to pay |
150 |
|
What doesn’t life insurance cover |
150 |
|
Are life insurance payments tax free |
130 |
Inez Cooper, managing partner at William Russell has provided her top tips on life insurance:
“Educating yourself of the different products out there when it comes to life insurance policies is always a good first step.
There are some key moments in life when you should consider having life insurance such as getting married, buying a home, having a child or moving abroad. These all usually require large expenditure and can be life changing circumstances, so it’s good to have financial protection in place.
If you are in a long-term relationship, a joint policy with your partner is a really good option as paying one premium tends to be cheaper than paying two!
If you are planning on moving abroad, it’s important to check over your policy documents as lots of providers only offer cover to people who are residents in the UK.”
