How much would you sell your other half for? Would you even do it in the first place?
That’s the real-life ‘indecent proposal’ which Gocompare.com posed to the Great British (and Northern Irish) public with in its latest survey, and the results might shock you.
One in 10 people would give their partner away for nothing, while nearly a quarter would be quite happy to give their other half away for less than £1m.
You can see where this is leading, can’t you? Yes, it’s an angle on life insurance.
Having been asked to name their price for their other half, only 13% of the people surveyed said that their partner had that much life insurance cover, while 31% of respondents said their partners had no life insurance cover at all.
Jeremy Cryer, life insurance expert at Gocompare.com, opined: “We commissioned the research to highlight the importance of life insurance cover and to get people to think about how their loved ones would be financially protected when they are not around to take care of them. Often people struggle to think about how much life cover they really would need, so thinking about a price tag may not be as daft as it sounds!
“In deciding how much life cover you need, you should consider the amount required to pay off your mortgage and any other debts or loans, as well as providing a lump sum to act as a financial cushion for your loved ones.
“Couples will also need to think about whether they want to buy a joint cover or two single policies. While joint cover often works out cheaper than two single policies, it will only pay out on the first death, ending the policy and leaving the surviving partner without insurance. Buying two single life policies would pay out on each death and allows couples the flexibility to insure themselves for different amounts and different lengths of time – perhaps reflecting differences in their ages and incomes.”
Short change – money news in brief
Seven-day account switching came into force, making it quicker and easier to switch banks.
Money Shot regular Ryanair has promised to be nicer to passengers after shareholders complained about the company’s ‘cavalier’ attitude to customer service.
The UK Energy Research Centre has reported that support for alternative energy sources is on the wane.
Speaking of energy, Npower recorded a 65% increase in demand for gas last Saturday compared with the previous weekend. Just put a jumper on, for goodness sake.
On Covered mag this week
With the news that Volkswagen is retiring the iconic campervan, Covered’s resident card-carrying vee-dub enthusiast Rebecca Lees waves it ta-ra.
Dan Bevis donned his tweed and jitterbugged his way on to the Goodwood Revival. This is what he saw.
Does buying a Citroen C4 Picasso still send out a signal that you’ve given up on life? Phil Huff finds out.
Matt Sanders pondered whether seven-day switching would change banking forever.
Cat fanciers! We’ve only gone and produced this splendid graphic telling the story of cats and their relationship with humans.
It looks like the Money Shot’s long-time financial heart-throb Mark Carney has got a bit of competition.
Raghuram Rajan is the new head of the Bank of India, and he’s already got money buffs the world over in a tizz with his good looks and winning charisma.
"The guy's put 'sex' back into the limp Sensex (the Indian stock market, finance fans). That makes him seriously hot. But nobody is calling the man a ‘Billboard Bimbo’. You know why? Because this man knows his onions,” swooned Indian journalist Shobhaa De in the Economic Times. And who are we to argue?
The Money Shot knows this much – it’ll be paying a lot more attention to the next global financial summit, or whatever it is the likes of Carney and Rajan go to. Hubba hubba!
Join us NEXT WEEK for another THRILLING instalment of THE MONEY SHOT.