Jill Mackay, Head of Marketing at Scottish Friendly, comments the concern's over-50s have regarding rising insurance premiums.

Britons aged over 50 are struggling with the rising cost of insurance with nearly two-thirds (63%) worried about how much they are paying in premiums.

A study of 1,000 over 50s by financial mutual Scottish Friendly found that nearly half (48%) are paying more than they were 12 months ago. 

The two most common types of insurance among over 50s are home or contents insurance (80%) and buildings insurance (62%).

Jill Mackay, Head of Marketing at Scottish Friendly, comments: 

Insurance inflation is a real concern for many over 50s and is adding to their woes during the cost of living crisis.

Coping with rising premiums is particularly challenging for individuals on fixed incomes who have fewer options to boost their earnings.

However, despite the short-term pressure many over 50s are under, it is reassuring that plenty are taking appropriate action to support their families in the event of their death.

Full release: Nearly two thirds of over 50s worried about inflating insurance premiums

✉️ Kevin Brown, Scottish Friendly, 07512 194336 / Kevin.brown@scottishfriendly.co.uk