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13 Aug 2020

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Women shopping around more for life cover as recession bites

More women could be leaving themselves at risk by cancelling or not having life insurance and income protection cover compared to men if the latest figures from Legal & General are anything to go by.

The insurer has released data showing that more women are cutting back on various fronts compared to men, with shopping and insurance among those in their sights.

More women than men are now shopping around for cheaper insurance, cancelling magazine subscriptions, not eating out and turning down their heating.

According to Garry Skelton, the marketing director at Legal & General's general insurance business, the harsh economic climate is impacting on most of the people in the country.

He stated that "while Brits are shopping around and cutting back, it's important to ensure that any compromise does not mean losing something that is valuable" such as insurance.

Mr Skelton explained that not having any sort of cover or one that is not adequate could result in people being forced to part with money if anything untoward happens.

The revelations come amid recommendations from the Post Office for people to take out life insurance or income protection products, which can help push away fears raised by the recession.

 

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Women shopping around more for life cover as recession bites