‘Young people should shop around’

Sainsbury’s bank is urging young people to compare life insurance premiums from different providers.

Healthy and young people should be paying less claims a spokesperson for the bank.

“Younger people tend to go with their mortgage lender because they might be a first-time buyer and that tends to be the easiest thing to do,” said Claire Moyles.

She explained how life insurance premiums stay the same and therefore young people may be doing themselves a disservice by not shopping around.

The Association of British Insurers (ABI) reported that the UK insurance company paid out £165 million a day in life insurance and pension benefits.

A third of British people have no life insurance at all, says the ABI. Of those that do, a third may be underinsured if they have not renewed their policy.

© Adfero Ltd

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