12.08.08 by Andrew Montlake

Value Yourself

New research by the Post Office has revealed that the average person in the UK thinks they are worth £350,000. In London this average rises to £500,000. This takes into account everything that they own or value in their life including home, car, salary etc..

The point of this research is to illustrate that whilst we all actually value ourselves an amazing 75% of us have no life cover to protect this value. That’s 36 million of us !

The cost of life insurance has actually dropped by a massive 70% over the last 30 years, contrary to popular belief that it is too expensive. The post office report that 28% of people use cost as a reason for not having it.

Post Office® head of protection, Duncan Caesar-Gordon said: “Regardless of the average UK adult valuing their life at £350,000, which is over double the average life insurance policy, it is worrying that so few people have taken measures to protect themselves.”

"What is interesting is the calculation that people make when working out how much their life is worth. What people need to consider is a lump sum of money that will help their loved ones pay towards something like a mortgage, should the worst happen.

"Thinking about the future and how the family will cope should the unexpected happen is a worry that can be easily avoided by taking out life insurance. With a typical cost of £10 per month people would have peace of mind knowing that their loved ones are protected."

It is the old adage that we protect our car, telly and other possessions without thinking, but struggle to protect the one thing we can’t actually replace – ourselves.

It's about time we actually valued ourselves properly.

« Back | Monty's Blog | Print article