Brits spend more on home protection than health insurance

Britons are more likely to have taken out home contents insurance cover than they are to have invested in private health cover.

That is according to protection specialist Scottish Provident, which warned that only 11 per cent of people have private health insurance, a figure that pales in comparison to the 71 per cent with contents cover.

The study also revealed that just 15 per cent of respondents have critical illness cover, which would provide them with a lump sum in the event they or a partner become seriously ill.

"While many people think that their savings will cover them, should they fall critically ill and are unable to work, the financial impact can run into thousands of pounds," said Susan Barclay, head of marketing at Scottish Provident.

"It is vital that consumers take out suitable protection in order to provide for themselves or their loved ones if the worst happens."

Meanwhile, the figures also revealed that a mere nine per cent have taken out income protection and just five per cent have unemployment benefit.

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