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Life Insurance -
Prudential: Brits rely on life insurance - 18/01/2008
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Life insurance protection is highly valued among Britons faced with the threat of tough financial circumstances, Prudential has found.
According to a study from the life insurance provider, traditional life cover is valued most by 35 per cent of Britons - followed by income protection, at 20 per cent.
Critical illness life insurance polled 12 per cent - with payment protection insurance the favourite of six per cent of those asked.
With house prices falling, the credit crunch tightening and consumer debt standing at £1.4 trillion in the UK, it might be the case that many Britons use the cover as a financial lifeline in the tough times ahead.
Sammy Rubin at Prudential commented: "With financial markets undergoing a period of uncertainty, many people may be feeling less secure with their budgets and may have to face the difficult decision of stripping down their monthly outgoings.
"Life insurance-related policies such as income protection can be a vital lifeline, supplying funds to cover day to day costs such as mortgage or debt repayments, or if someone finds themselves in unexpected financial difficulties, such as being unable to work due to illness or injury."
Prudential's poll also found that many more Britons say they would cancel their TV subscription (71 per cent) ahead of their life insurance cover (11 per cent) if they fell on tough times.
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 Life insurance guide. Most life policies have optional extras, which include the following. A waiver of premium...
Life Insurance. What is Life Assurance/Insurance? What types of life assurance are there? What is critical illness...
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