"The death of a loved one is devastating enough, but for millions of UK families, financial survival is a very real fear."
- Ban Mahsoub, partnerships director at Tesco Insurance and Money Services
Of those surveyed (2,008), 38% said they ‘often’ think about what would happen to their family if they passed away, while for 16% it’s a constant worry.
Notably, almost a third (29%) said their biggest financial worry is whether their partner could manage on their own, with 11% believing their loved ones wouldn’t cope financially. 72% fear their family wouldn’t make it financially beyond twelve months.
In terms of financial implications, over half (51%) believe their family would need more than £1k a month just to cover living expenses such as housing, utilities, and groceries. For a fifth (21%), that figure was £2.5k or higher, demonstrating that the long-term cost of losing household income is a real and immediate concern.
In light of these findings, Tesco Insurance & Money Services has partnered with Aviva to offer customers access to its Life Insurance proposition.
Aviva’s life plan offers a fully mobile-optimised digital journey as well as a suite of non-contractual benefits designed to support health & wellbeing. The insurer can change or withdrawn these benefits at any time.
READ MORE: Aviva confirms partnership with Tesco Insurance & Money Services
Ban Mahsoub, partnerships director at Tesco Insurance and Money Services, explained that, “The death of a loved one is devastating enough, but for millions of UK families, financial survival is a very real fear.”
She said: “Our research shows that alongside grief, many are haunted by worries about how their family would manage day-to-day costs and stay afloat without their income. These concerns aren’t just hypothetical; it’s a daily reality for tens of millions facing rising living costs and uncertain futures.
“Planning for a time when you’re no longer here and having honest conversations about practical solutions like Life Insurance, can be difficult. But it’s precisely these worries that make the conversation so important.”
“Having a plan in place brings peace of mind, not just to you, but to those who would feel your absence most deeply. It’s more than a policy; it’s an act of care, a safety net that allows loved ones to grieve without the added burden of financial worry,” Ban concluded.
