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Life insurance a necessary commitment

Date: Thu, 09 Feb 2006

Life insurance is a necessary commitment even for couples less than willing to combine their financial matters.

Research by Alliance & Leicester suggests that financial commitment phobia affects 31 per cent of couples and 57 per cent for unmarried cohabiting couples. However, life insurance cover is vital if the worst should happen especially for those with expensive joint mortgages.

The survey also revealed that marriage is the only thing that encourages greater financial links between partners – with just 8 per cent of all unmarried couples living together holding a joint bank account, compared with 44 per cent of married couples.

"It is interesting to see that many people are only prepared to commit to each other financially after tying the knot," said Simon Ripton, current accounts manager at Alliance & Leicester.

"Yet love is not enough for a quarter of couples who still don’t commit financially after marriage, with 23 per cent of married people banking solely from separate accounts."


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Endsleigh Insurance Services Limited is authorised and regulated by the Financial Services Authority. This can be checked on the FSA Register by visiting its web site at www.fsa.gov.uk/register.
Endsleigh Insurance Services Limited. Company No: 856706 registered in England at Shurdington Road, Cheltenham Spa, Gloucestershire GL51 4UE.