Cohabiting couples risk financial disaster

Our research for Direct Line Life Insurances has found that more than a third of cohabiting couples don’t understand their legal rights in the event their partner passed away.

10% believe they would automatically inherit their partner’s share of the property however this is only the case if there is a will stating this. Worryingly, only 26% of those who live together have a will which leaves them at real risk. Additionally, less than 1 in 3 say they have life insurance, which again, puts their stability at risk when they would be vulnerable and come at a time when they are distressed caused by financial turmoil.

It’s been found that cohabiting couples are the fastest-growing family type in the UK, with 3.3 million families living together without being married or civil-partnered last year.

Find out more about what this could mean here.