People are putting their financial security at risk
according to new research from unbiased.co.uk, which reveals three in ten are
uninsured in vital areas such as life insurance, income protection, critical
illness and mortgage payment protection.
A growing number are now cutting back on their insurance
policies, with almost one in 10 cutting back on important areas in the past 12
Karen Barrett of unbiased.co.uk says, "Consumers looking to tighten
their purse strings are now adding insurance policies to the cancellation list,
choosing to let go of their financial security in favour of some extra cash in
their pockets. The it won't happen to me
attitude seems to be at the forefront of as they fail to realise what this may
cost them in the future. We need to raise awareness that the state is no longer
prepared to intervene in the event of ill-health or redundancy."
Life insurance news: 10 April 2012