Figures for 2008 released by protection specialists LifeSearch show that only 3% of all protection policies written by the company during this period were bought by young people.
The LifeSearch sales review also found:
Critical Illness Cover sales were up 37% from 2007
The average premium rose by £5.43 to £28.09 in 2008
43,000 lives were protected last year, up by 13% from 2008
Overall business increased by 20% from 2007 to 2008
LifeSearch policy adviser, Matt Morris, said: "Clearly more effort needs to be made to reach younger people. Many younger people have debts, mortgages and families that need financial protection in the event of the main income provider being unable to work. Often they either buy no financial protection at all or rely on the internet to get the best deal. That might work with car insurance, but not with financial protection."
