Simple Online Wills Have Surged in the UK – But Are They Risky for Consumers? – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Online Wills – Are They Worth the Paper They’re Not Written On?” report has been added to ResearchAndMarkets.com’s offering.
The use of online wills in the UK has surged, fuelled by the pandemic and the rise of slick online technology offerings. This independent and unbiased research reveals concerns however, whether consumers really know what they are buying and whether a simple online meets their needs.
The publisher conducted two surveys among 1,500 UK consumers in the first half of 2021 and reviewed over 25 online firms and also consulted with industry experts. The author tested online will writing propositions ranging from low or no cost to the more expensive, and tested user experience ranging from traditional longer forms to slick and transformative journeys.
The publisher examined whether consumers understood their own affairs and were they ‘simple’ or ‘complex’ and whether they understood what they were signing up to. Key concerns are outlined with this sector which need to be considered and some clear consumer guidance is summarised to help those looking to make a will – which every UK adult should do.
This report details the full findings and will be valuable for organisations thinking of offering online wills, will writers themselves, media, consumer influencers, and anyone seeking to better understand this market sector.
The report provides evidence that:
- Online will writers don’t always ask su?cient questions to determine if a ‘simple’ will is suitable for an individual’s circumstances or indicate to a customer that a simple will may not work for them.
- Most online wills are unsuitable for people with complicated circumstances, yet 65% of consumers who believe their affairs are simple, actually have complex circumstances.
- A sizeable proportion (23%) of consumers do not bother to read or even understand the terms of the will they are entering into and signing.
- Online will writers offer very little liability for something going wrong.
Key Topics Covered:
The will writing and online will writing market size
Market insight
- Types of will writing provider
- Online will writing methods
- How will writers position themselves
- The customer experience
- Price and features
- Related products and services
- Heritage and expertise
- Additional analysis
Consumer insight
- Consumers expect wills to include legal advice
- Consumer awareness and confidence of own needs
- Reading (and understanding) the small print
- Aspects of our lives that might mean a simple will is not suitable
- More complex circumstances
- Events that led to changing a will or writing a new one
Expert comment and consumer guidance
For more information about this report visit https://www.researchandmarkets.com/r/6y7st5
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