Older policyholders are more likely to claim on their mortgage payment protection insurance (MPPI), according to a survey by Abbey National.
It found that those in the 41 to 55 age range were more than twice as likely as the 26 to 40 age group to make a claim for unemployment. Those in the 26 to 40 age group, in turn, were almost 60% more likely to make a claim than those policyholders aged between 18 and 25.
Abbey National said the survey suggested that job security decreased with age.
The survey also found that more than half of those claiming on their insurance had lost their jobs within two years of joining a company.