What if life insurance was mandatory just like your car insurance? Sounds like another expense added to your current list of expenses, doesn’t it? Well everybody has a different way of looking at things; your viewpoint towards something could be entirely different to mine, so I’d try to talk about facts & not my personal opinions.
The Association of British Insurers (ABI) publishes average payout rate statistics from across all insurers each year for the public to see. As per the statistic last year (2016) 98.3% of all Life Insurance claims were paid, with an average payout on a Life Insurance policy being more than £75,000.