Many people embark on financial planning while they are still single

Insurers need to be more agile in matching products to people's changing lifestyles, a report has claimed.

Traditional cover has been linked to families and elderly couples, according to the report by price comparison website Confused.com.

This leaves those who remain single, marry later, or who take on financial commitments with friends, short of insurance cover, the report said.

Some first-time buyers turn to friends as they face high deposit demands.

No clear figures are compiled that give any official picture about whether the number of friends buying homes together is growing, but estate agents urge anyone considering such a move to draw up an exit agreement in advance.

Some people see the longevity of friendship as an opportunity to share financial commitments, according to the Confused.com survey.

But the compnany's chief marketing officer, Mark Hoban, said that insurance companies needed to reflect this in the products they offered.

"There may be a whole generation of homeowners who are unprotected against losing the person they share their life and home with," he said.

"There is an opportunity for life insurance companies to reflect the rich diversity of our society and to meet the needs of more people by making available products and services which reflect the value that people put on personal relationships outside of traditional family and marriage ties."