Women in the Midlands are the biggest worriers when it comes to money - according to research by Norwich Union.
Women in the Midlands are the biggest worriers when it comes to money - according to research by Norwich Union.
Over half (54%) of women in the region said money was their biggest worry compared to only 22% in the South and 29% in the North. In contrast, women from the Midlands are the least worried about losing their health with only 29% saying it was their biggest worry compared to 57% in the South and 47% in the North.
Other findings from the research revealed that Midlands women appear to be the most secure in their relationships. Only 4% of women in the Midlands worry about their partner having an affair while 8% in the North and 5% in the South said it was their biggest worry in life.
Norwich Union commissioned the research among working women amongst fears that homeowners are not sufficiently covering their mortgage in the event of serious illness. Despite the fact that 54% of women in the Midlands worry most about money, they are the poorest in the country at taking out critical illness insurance with only 22% having cover, compared to half of that in the North where 44% are covered.
Willie Mowatt, head of protection at Norwich Union, commented: “It is important that people do not put their homes as risk as nearly one in 10 women said they would have to sell their house if they were unable to work through ill health. Insurance can start from as little as Ł5 per month (for stand alone critical illness/Mortgage Life Insurance/term assurance) and can give you peace of mind against money worries in the future.
“With the increasing trend towards repayment mortgages it is important that people consider taking out protection as these type of mortgages do not have it built in.”
-Ends-
Full details are available by visiting the website on www.norwich-union.co.uk or by calling 0800 015 2530.
Notes to Editors
- 1 in 4 males and 1 in 6 females aged 30 will suffer a critical illness such as cancer, heart attack or stroke before the age of 65.*
- 1 in 10 males and 1 in 33 females aged 30 will suffer a heart attack before they are 65.*
- 1 in 10 males and 1 in 8 females aged 30 will contract cancer before they are 65.*
- 1 in 21 males and 1 in 32 females aged 30 will have a stroke before they are 65.*
- Despite all this it is estimated that less than 12% of the UK working population held critical illness policies during 2000.*
- Fieldwork for research undertaken by Norwich Union took place during July 2001
- Norwich Union’s news releases are available on this site
- A selection of images are available from the CGNU Newscast site at www.newscast.co.uk
- An ISDN facility is available for studio quality interviews. Call the press office on 08703 666873
For all life & pensions media enquiries 08703 66 68 73 For all other media enquiries 08703 66 68 68 * Source: GE Frankona – May 2001
Press office contacts:
James Evans 08703 66 68 78
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Louise Goffee 08703 66 68 70
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