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Home / News / Life insurance is a 'lifeline' for Brits
Life insurance is a 'lifeline' for Brits
21 January 2008 10:59:29
New research by PruProtect also highlighted the effects of falling house prices and growing consumer debt on people's attitude to cover.
According to the provider's poll, the majority of Brits would cancel their TV subscription or mobile phone contract ahead of their life insurance policy in times of financial hardship.
Life cover also topped the list of most valued protection types with income protection and critical illness cover following it.
Sammy Rubin, chief executive of PruProtect, pointed out that many people may be feeling less secure with their budgets as a result of the UK's financial markets undergoing a period of uncertainty.
He commented: "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."
Launched in September last year, PruProtect rewards customers with "vitality points" if they make healthy changes to their lifestyle, presenting the opportunity of lower premiums as a result.
Direct Life and Pensions Services Ltd are one of the UK's leading providers of life insurance, term life assurance, mortgage protection, critical illness and life insurance advice online
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