Londoners are least prepared in terms of life insurance, a report has found.

A representative from a price comparison website has expressed his opinions about the current scene on the life insurance and term assurance market.

According to a report, the Scottish go an extra mile in making arrangements of funds for their death services while Londoners are the least prepared for their funeral costs in the event of a sudden death or even otherwise.

Contrary to the ongoing trend in the American life market, where Americans are willing to attribute a considerable amount of their earnings towards a life assurance arrangement, it is found that the British lag far behind.

British citizens are supposedly not planning their investments in key areas in an effective manner. This in turn leads to a void which the families feel not only as a result of the loss of a family member, but also financially.

The funeral service market is also a business that is consumer driven. The future costs in this business will only rise and people will not be able to correctly estimate the costs of their funeral service.

One can do a number of things to ensure that their funeral costs are properly covered and there is plenty for the family to spend as well. One such instance is savings and investments.

Although 59 percent of respondents in the UK agree with this method, life insurance and term assurances are better, due to the fact that they are not subject to cuts in interest rates.