Life insurance biggest concern, study shows

Wed, 15 Nov 2006

Life insurance is the number one concern for cover, according to new research.

Some 40 per cent of UK adults believe that life insurance is the most important form of cover, a study by Bright Grey has revealed.

Additionally, respondents ranked home insurance and mortgage insurance as priorities, with 23 per cent and 11 per cent voting for these respectively.

Roger Edwards, product director at Bright Grey, states that he is not surprised that life insurance has been voted as the most vital cover.

However, the expert claims that it is "astounding" that home insurance is valued more highly than mortgage insurance.

"Surely running the risk of losing your home is a bigger concern than losing your TV and DVD," he remarked.

Mr Edwards did note that some of the individuals who took part in the study may not have a mortgage, although this does not account for the discrepancy in figures.

James Harrison, the chief executive of insurancewide.com, recently called upon homeowners to be proactive and find out whether their property is at risk of flooding with severe weather patterns expected.


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