Abacus Daily Debt News

Over-50s ‘concerned’ about heating costs

Almost half of over-50s are worried about the cost of heating their home during the current freezing temperatures, research from the Post Office has suggested.

A Survey by the firm found that 48 per cent are concerned about the financial implications of heating their property, with Met Office figures indicating average temperatures are currently below seven degrees.

Head of protection at the Post Office Duncan Caesar-Gordon explained that gas and electricity bills have become an "additional worry" for many in this age group.

"For the over-50s winter can be a really tough time and keeping warm is hard," he remarked, adding that those who take out the company’s over-50 life insurance policy will receive £30 towards their gas and electricity costs - an amount which may help those who are having difficulty heating their home due to problems with debt.

Another demographic that is worried about their finances is those without a partner, as research by Zurich has found that 35 per cent of singles are concerned about the additional cost associated with their marital status.

By Tom Musk