Britain is a nation of animal lovers...and insurers?

People living in the UK would still rather insure their pets than themselves or their loved ones.

Although parents are more likely to buy protection, almost two-thirds (60%) do not have any cover in place.

The research found that less than one in ten (9%) people have bought critical illness (CI) protection, while 12% have pet insurance.

One fifth of parents said they would have to rely on savings if they needed money for medical treatment or to fund time off work.

Less than half the respondents (42%) were prepared to pay up to £20 a month for cover; 15% willing to pay £5 a month, 17% £10 a month and 10% £20 per month.

The findings are similar to those published last year which revealed people were twice as likely to insure pets as they were to protect their income.

It's clear though that parents are willing to pay to protect themselves and their children for a reasonable monthly amount.

When it comes to insurance , something is better than nothing , and a small amount of critical illness cover can be taken out for the same monthly outlay as a pet insurance policy, and will provide a vital support at a time of need.

As always thanks for your attention.

Mark (mark@themortgagemonkey.co.uk)