Rose St Louis, Protection Director at Scottish Widows, comments on the number of people in unmarried relationships who will lose out on their partner's life insurance pay-out.

Scottish Widows is encouraging financial advisors to help couples take a fresh look at their finances in 2023, as new research shows that almost half (43%) of people in unmarried relationships will lose out on their partner’s life insurance pay-out because they haven’t made the right arrangements.

Only half of unmarried adults who are in relationships (52%) know whether their partner has a life insurance policy, and more than a quarter of those who do know (27%) are unaware of the policy’s value.

Rose St Louis, Protection Director at Scottish Widows, said: “Our research has shown that unmarried couples find it difficult to talk about planning for the worst and proactively avoid it as they don’t feel it is important. However, despite being difficult to discuss, there is an urgent need for transparency to ensure long-term security.

“As marriage rates continue the decline, financial advisors have a crucial role to play by supporting couples sensitively through this process and ensuring they understand the different protection offered to them. Helping to facilitate these conversations so they can handle the issue sensibly and sensitively is an integral part of professional advisors' role in today's society.”

Full release: Heart-broken: Almost half (43%) of unmarried couples won’t get a life insurance pay-out if their partner dies

✉️ Ruth Evans, BCW, 07385392474 / ruth.evans@bcw-global.com