Time-poor Brits are terrible at life admin – with life insurance, writing wills and credit card bills all tasks we love to avoid. The study found that life insurance takes the average Brit over 10 months to sort out – with just over a third saying it was on their to-do-list for one to two years.
Britain has been revealed to be a time poor nation which is terrible at getting life admin done. Almost two thirds (63 per cent) say that they feel ‘weighed down’ by their to-do lists and 50 per cent have delayed important tasks because it felt overwhelming. 70 per cent say they find paperwork and forms intimidating, which is putting them off completing life admin – with Gen Z (16-24) most likely to feel overwhelmed (87 per cent).
It comes as the average Brit was found to procrastinate for over a month before ticking off an item – with some generations better at keeping on top of their growing lists than others. On average, Gen Z are the quickest, taking less than a month (0.96 months) to tackle a task – while 45-54-year-olds are the biggest procrastinators, leaving items uncompleted for over a month (1.3 months).
The research conducted by the Post Office revealed that a lack of time is the No.1 barrier for completing life tasks (35 percent), followed by too much information to process (30 percent) and reading complicated instructions (27 percent).
In fact, 43 per cent of Brits say they would hire a personal assistant to help them with life admin if they could afford one. Managing household bills ranked as the life task Brits struggle with the most (32 per cent), followed by writing a will (25 per cent) and filing tax returns (18 per cent). For Gen Z and Millennials (16-34), pensions are the sticking point – with 25 per cent struggling with this the most.
But it is life insurance which languishes on the nation’s to-do lists, with the new research revealing it took the average respondent who has it over 10 months to sort. Over a third (36 per cent) of Brits without life insurance hold off getting it sorted because they don’t think it’s a priority or that they even need it. It comes as Post Office reveal the six reasons why life insurance is important.
However, Brits could be enticed into getting their life insurance sooner, with 30 per cent saying that a financial incentive, such as cashback or discounts, would be enough to give them the nudge they need. It comes as Post Office launch a limited-time-only Winter Warmer initiative which offers customers of Post Office Life Insurance and Post Office Over 50s Life Cover £30 Winter Warmer cashback to help take the financial stress off this winter.
The offer, which is only valid until the January 31, 2025, has been designed to provide customers with financial relief as new year admin piles up – allowing them to contribute to either their January heating or household bills, or even just spend the money on themselves.
On top of the £30 Winter Warmer cashback, customers will also be eligible for £100 choice of gift card if they buy Life Insurance or £125 choice of gift card if they buy an Over 50s Life Cover policy, as an additional boost to help them navigate the tricky winter months.
Of those purchasing life insurance, 42 percent said it was for their peace of mind. Others were motivated by major life events: 31 percent were prompted by having kids, 23 percent when they bought their first house, and 18 percent when they got married.
Post Office’s Paul Paddock commented: “Although buying life insurance may seem daunting, or others may be asking themselves ‘why do I need life insurance?’ The benefits of life insurance and getting it ticked off your list include peace of mind and financial security for your loved ones.
“With our new £30 Winter Warmer cashback offer, we hope that the added financial incentive will encourage people to get their cover sorted whilst also giving them a helping hand to manage their household bills for the winter months. So, if you’re wondering ‘when should I get life insurance’, there’s no better time than now.”
The Post Office £30 Winter Warmer cashback offer, which was released on the 30th December 2024, offers Post Office Life Insurance and Post Office Over 50s Life Cover customers £30 cashback to warm their winter.
For further guidance on why to take out life insurance, or the Post Office £30 Winter Warmer offer, you can check out this information here