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Life Insurance - Necessity or Luxury
April 9th, 2009
Britons cancelling Life Insurance cover as credit crunch bites
Worrying stastics have revealed that over half a million Brits have cancelled their life insurance cover altogether in an attempt to save money as the credit crunch bites
The report by Sainsbury’s Finance has revealed that an estimated 500,000+ Britons have cancelled their life insurance cover in the last 12 months and four percent of all life insurance holders have switched providers in the last year to obtain cheaper cover.
“Given the financial state we’re in it’s inevitable that people are going to be looking to make cut-backs, but it’s a real concern when those cut-backs leave them vulnerable to far greater expense down the line,” said Sainsbury’s home insurance manager Neil Laird.
However, life insurance premiums can vary greatly and in recent times premiums have actually fallen so it is always worth speaking with an Independent Financial Advisor to make sure that you are paying the correct premium for the cover you have.
For a free and impartial review of your life insurance cover CLICK HERE
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