24th April 2015
Britons are putting their financial futures at risk by choosing to be a nation of ostriches and burying their heads in the sands.
Research by Confused.com shows 64% of people say they choose to ignore issues and 31% say that if something worries them they try to push it to the back of their mind.
Money is the top issue Brits like to ignore, with 32% adopting ostrich behaviour when it comes to their finances. The same number say if they have a problem they deliberately put off dealing with it in the hope it will just go away by itself and 39% say they are scared of dealing with their problems. Health is the second biggest concern, playing on a quarter of people’s minds.
Unfortunately, nearly a third of people surveyed said they had made a problem worse by not dealing with it and ended up bankrupt, losing their job, having the house repossessed, and getting visit from bailiffs.
Women are more likely to bury their heads in the sand, with 65% of women saying they do so compared to 62% of men.
This failure to face up to problems and consider the future could be one reason why just 38% of adults currently have a life insurance policy, said Confused.
Life insurance pays out on your death to ensure your loved ones are not left shouldering financial burdens. The older you are when you take out a life insurance policy, the more expensive it becomes so it is wise to deal with it early on.
Matt Lloyd, head of life insurance at Confused.com, said: ‘Britain seems to be a nation of ostriches with many people choosing to bury their head in the sand rather than dealing with issues head on.
‘While for some things this might be ok, which it comes to things like bills and illnesses, it’s better than any problems are dealt with straight away. And if Brits are worried about securing the future for their family later in life, they should look into life insurance sooner rather than latter.
‘No one knows what’s around the corner and if you don’t have cover in place, your family could be left struggling.’