Life Insurance More Important Than Home or Vehicle Insurance – Survey says

An international survey found that a more significant percentage of people feel that life insurance is more important than home/property or vehicle insurance.

The survey of 1,000 people spanning the US, UK, Canada, and parts of continental Europe, undertaken by international software vendor Zelros, canvassed what type of insurance people felt was essential.

Zelros says while the majority of people, at 41.6%, say “health insurance”, the most common answer at 21.5% was life insurance, followed by home/property insurance at 19.1%. The least common response, with 17.8%, was automobile/vehicle insurance.

Zelros, which develops AI systems for insurance and bank insurance players, notes that 47% of men surveyed feel the most important insurance coverage is health, followed by 19.8% who think that life insurance is most important. Another 17.4% feel automobile/vehicle insurance is the most important, and 15.8% believe home insurance is the most important.

Of the women surveyed, 37.6% consider health insurance most important, while 22.7% believe life insurance is most important, followed by home insurance at 21.5%. Automobile/vehicle insurance came in last for women at 18.2%.

While health was again the most important type of insurance to have across all age groups, 22% of 18-24 year-olds opted for life insurance; as did 18% of 25-34 year-olds; 27% of 35-44 year-olds; 24% of 45-54 year-olds and 22% of >54 year-olds.

Disclaimer: This article only provides general information; it does not consider your personal needs or circumstances and is not intended to be viewed as financial advice. If you require financial advice, contact one of our financial advisers.

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