Diverse modern families less likely to have life insurance

Today’s increasingly diverse modern families are less likely to be financially protected than more traditional family units in the event of death or serious illness, a new study has revealed.

Research by Sainsbury’s Life Insurance found that 37 per cent of married couples living with children have life insurance, compared with 32 per cent of single parent families and 31 per cent of unmarried parents.

The figures also show that only around 23 per cent of people living in same sex partnerships have life insurance.

In addition, only an estimated 39 per cent of same sex couples have life and/ or critical illness cover, which is significantly lower than the 50 per cent of male-female married couples who have life and/ or critical illness cover.

Helen Williams, head of Sainsbury’s Life Insurance, said: “Whatever the make-up of your family, it’s important to ensure you and your dependants are financially protected.”