British people are twice as likely to take out pet insurance than a critical illness policy on themselves, a new survey has revealed.
The research from Friends Life (correct at February 2014) found that just 12% of individuals had a critical illness policy in place, compared to 21% of respondents who insured their pet.
The vast majority of employees that were surveyed say they had not insured themselves against a serious or life changing injury.
Worryingly, the survey revealed that a mere 9% of respondents said they had an income protection policy.
Friends Life said the figures revealed a disconnect between what was considered important and how people were insuring themselves and their possessions.
Friends Life individual protection sales and marketing head Mark Anders said: “It is all very well being able to replace a cracked phone screen, but the ability to pay for ongoing medical treatment or pay off your mortgage when a serious accident or injury impacts your ability to work is a lot harder to fund, so it is important that people look into their personal insurance options to provide financial security and peace of mind for themselves and their family in case the worst happens.”