It also found:
• A third of females in the UK do not have insurance protection against dying, double the percentage of men (16%).
• Three out of ten women who do have cover have no idea what they would be leaving behind to loved ones in the event of their death.
• Three in ten women (29%) have never been educated about life insurance, versus 18% of men.
• Over a fifth of women (21%) believe they can’t afford it versus just 10% of men.
The 2025 Life Insurance Index, commissioned by UK-lifeinsurance.com ascertains Britons’ knowledge about potentially the most financially impactful insurance product on the market.
The report shows women are significantly less likely to have their lives insured compared with men, with a third of women not having a life insurance policy compared to just 16% of men. Moreover, only 29% of women know what their loved ones will receive after they pass compared with 44% of men. More women lack education, as three in ten women (29%) have never been educated about life insurance, versus 18% of men. When it comes to afford life insurance, over a fifth of women (21%) believe they can’t afford it versus just 10% of men.
The Financial Conduct Authority’s Financial Lives 2024 - general insurance protection survey, was released last month and shows the percentage of women holding life insurance policies has fallen 1% since 2022.
Half of adults don’t have life insurance
UK-lifeinsurance.com’s Life Insurance Index 2025 found over a third of over 55s don’t have a life insurance policy in place while more Gen Zs have policies in place compared to their Millennial peer group - 17% vs just 5%. The FCA’s survey also showed 18-24 year olds were the only age group whose number of policies increased since 2022, increasing 3%.
Most don’t know what their loved ones will receive upon their death
Only 36% of respondents said they know what their life insurance and/or pension will pay out when they die, and 27% said they are unsure what will be paid out. Only 29% of women know what their loved ones will receive compared with 44% of men.
Don’t know what life insurance is or been educated on it
Nearly a fifth of Brits (18%) don’t know or are unsure what life insurance is with only 67% of Brits saying they know what it is. More women lack education, as three in ten women (29%) have never been educated about life insurance, versus 18% of men.
A spokesperson at UK-lifeinsurance.com, commented on the report: “This report shows what many of us in the industry already believed; we don’t do a good enough job in educating people about life insurance, what it is, what it is used for, its benefits and its role in estate planning and retirement. Life insurance can be very affordable for most people and can give families real peace of mind to protect their loved ones financially if the worst were to happen. Also, different products can provide personalised solutions to fit people’s goals and aims.”
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