Life Insurance News
More consumers could get life insurance to protect their financial futures
Having life insurance or income protection cover could soon become a norm for an increasing number of cash-savvy consumers.
According to the Generation Recession Report from Friends Provident, a new group of realistic thinkers concerned with protecting their finances has been fostered by the downturn.
The study shows that one in five (20 per cent) UK adults now feel a greater need to focus on the future, while a third (33 per cent) have started saving more since the recession begun.
"Despite the negative impact of the recession experienced by many people across the UK, it is encouraging that a significant number have taken it as an opportunity to become more financially savvy," commented Simon Clamp, managing director UK at Friends Provident.
"Increasing financial awareness amongst consumers can only be a good thing and this is demonstrated by the numbers who are reducing their debts and becoming more focused on their futures and saving for the long-term."
As well as saving, consumers are advised to have protective measures such as life insurance, income protection or unemployment cover, which can offer a vital source of income for dependants in case of death or redundancy.
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