14/07/03

Shoe boxes, biscuit tins or hidden under the bed.  These are all places people store their most important documents, according to new research from Goldfish Life.  Over half the population (55%) use a filing cabinet, but 14% leave significant papers all over their house where they could easily be lost or mistaken for rubbish.  Also concerning is that almost a fifth (19%) say their loved ones would have no idea where to look for documents should the worst happen. 

The findings also reveal that 38% of those interviewed have no life insurance, potentially leaving behind a difficult financial legacy.

The survey was commissioned to mark the launch of Goldfish Life Insurance from Goldfish Bank, a service that lets customers compare policy prices from nine insurers with a click of the mouse or a quick telephone call.

Goldfish asked a GB representative sample of 2,000 people where they keep their important paperwork (eg. wills, pensions, life insurance documents), as well as questions on life insurance.  The results show:

Key Findings:

- Over half of those surveyed were organised enough to keep their important paperwork in a filing cabinet (55%).  But the second favourite place was “all over the house” (14%), followed by a shoe box or tin (10%).

- Women were more likely to use the shoe box / biscuit tin storage facility, compared to men (12% v 9%).  The over 50’s used the filing cabinet method the most (58%), compared to only half of 18-29 year olds.

- Single people were less organised with 18% saying they had important paperwork all over the house, compared to only 13% of marrieds. Those who had life cover were more ordered than those who didn’t and were also more likely to use a filing cabinet.

- Nearly one in five (19%) admitted that their loved ones would not know where to find important personal documents if anything happened to them. This rose to an even more worrying 30% for singles, showing the benefit of having an ‘other half’ to keep informed.  However, 79% of those with life insurance were positive that their loved ones were properly aware.  The over 50’s were the most conscious about keeping things safe, with 78% thinking their loved ones would know where to look.

- Of those interviewed, 40% had no life cover or weren’t sure – however, 80% of those with a mortgage were insured in this way.

- The old image of the man as the main bread-winner still endures when it comes to life cover.  Of those who were insured, 44% of men said they had more cover than their partner and 47% of women agreed!  But overall, 44% thought they were covered for equal amounts.

John Clark, Head of Insurance at Goldfish, comments: “People keep their important papers in a wide variety of places – we’ve even heard of storing them in the freezer or airing cupboard!  This is fine as long as all the documents are together and your loved ones know where they are.  But our research shows this is often not the case – especially with single people.  So Goldfish’s advice is to put all your documents together – be it in a safe, filing cabinet or biscuit tin – today, and tell your next of kin where it is.“

Provided by Goldfish