As the credit crunch continues to bite through the UK, more and more people are beaten with anxiety, stress and tension as they struggle to keep up with essential payments.

A recent study by health insurance provider, Engage Mutual, revealed that 60 per cent of Britons cannot afford healthcare needs for themselves and their families. Spokesperson Karl Elliott of Engage Mutual said, "With the cost of living on the rise, our research shows a shocking number of people struggling to pay for some quite basic family healthcare necessities."

Earlier this year, there was an increase in the amount of people who chose not to take health insurance because they thought it was not as important as other payments. Like many others, my uncle has been suffering from increased stress levels and high blood pressure as his business, which is the major pillar supporting a family of five, hasn’t been running smoothly.

As more people around the UK begin to feel the major affects of the credit crunch, and although there are no signs as yet for things to get any better, it can only be stressed that people try not to stress.

Instead, insurers urge that people carry health insurance as research has proved the importance of health benefits to peoples working lives.  

The importance of health insurance in 2008

In a century where our life revolves around working and money, health insurance is probably more important today than ever. While the effects of the credit crunch leave people clutching on tight to what they have, who knows when they will get ill and not having enough money to pay for treatment would probably be a big disappointment.

But it doesn’t stop at year 2008. As the credit keeps on crunching and eating up everything in its path, and as there is no reason to believe things will be okay by 2009, it’s only best to keep ahead and make sure you are up to date with your insurance.

So what can be expected for the year ahead?

Well, just like most things that have occurred in the UK, the US sees it first. And at the moment, health insurance costs seem to be rising.

Regardless of the fact that the health insurance situation in the UK and the US are different, according to news from a health insurance group in America, insurance premiums could soar up to 8.9 per cent more by 2009.

It can therefore be bad news for the UK as it is possible that health insurance premiums could increase by 2009.