- 1 in 10 would give them away for nothing!
- Two thirds wouldn't sell partner for any amount of money
- Only 13% have anything like the equivalent life insurance to match partner's price tag
A new survey released today reveals that for many Brits love is more visually impaired than blind, when it comes to money. A third of those surveyed said they would be willing to sell their partner, with 24% willing to accept £1m or less for their other half, including 9% that said they would happily give away their partner for free.
When asked what they'd miss most if their partners weren't around, companionship topped the list (76%), followed by their partner's income (6%), and more people would miss help with the housework (5%) than sex (4%). 5% of respondents said they wouldn't miss a thing about their partner.
Having been asked to name their price for their other half, only 13% of Brits 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, from Gocompare.com commented, "We commissioned the research as a light hearted way 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!
"Today, many household budgets rely on joint incomes, but unless couples have arranged life insurance - when either of them dies, then their income passes away too. So, we urge couples with shared financial commitments such as a mortgage or dependent children, to consider arranging cover."
Jeremy Cryer continued, "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."
For more information on life insurance visit: http://www.gocompare.com/life-insurance/guide/
Notes to editors:
On the 3rd-5th July 2013, Vision Critical conducted an online survey among 2,025 randomly selected British adults who are Springboard UK panelists. The margin of error-which measures sampling variability-is +/- 2.2%. The results have been statistically weighted according to the most current education, age, gender and regional data to ensure samples representative of the entire adult population of United Kingdom. Discrepancies in or between totals are due to rounding.