I am reading on our website today that we are more inclined to spend our cash on a lotto ticket, than on taking out life insurance cover, to protect our family.
As a nation we spend more on gambling than on the best life insurance cover to shelter our loved ones from financial distress, should the worst happen. In fact, we spend nearly £14 a month per household on games of chance, while 59% of us have no life insurance cover at all. Amazing, considering that the cheapest life insurance policy can cost just £5.
Even by head of population, we prefer the short-term thrill of a punt on the lotto to the less immediate ‘thrill’ of peace of mind from life insurance - only 41% of us has life insurance cover, while 68% of us like the occasional gamble.
But a life cover policy is not thrown in the bin, after the 3-second thrill as the lotto balls fall.
A life cover policy never disappoints!
It is, let’s face it, something of a sure thing.
On the lotto front, meanwhile, there is a far greater likelihood of being eaten by a shark, or struck by lightning, than of winning the lotto jackpot.
For the sticklers for figures, the odds are: death by shark 3.2m to 1, a lightning demise 258,000 to 1, and the lotto jackpot? An unbelievable 14 million to 1.
Another advantage of spending the money more wisely: the shark attack and the lightning bolt could just be included in your life insurance cover, as well.
Are our spending priorities as crazy as they sound? Or have you put life insurance cover on the back burner as well? Justify yourself! Tell us why here!
