Just under two-thirds of women have never taken out life insurance cover, according to new research.

In addition, a third of women said they would never consider taking life cover out.

The research, carried out by Friends Life, showed that there is a real need for financial services to engage more with women in particular, as over a quarter of the women interviewed said they would be encouraged to purchase life cover if they thought it was good value for money.

The main reason the female respondents gave for not taking out life cover was they did not consider it to be a current priority (30% of respondents), while 27% said it was too expensive.

However, a quarter (24%) of women who do not currently have a life insurance policy did admit they would be open to considering one in the future.

And it is not only the ladies that are leaving out life cover from their financial budget.

The research also revealed that four in 10 men have never held a policy. Of those males interviewed, just over a quarter said they wouldn’t consider taking one out.

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