Mortgage Industry News

← Back

Britons budgeting for life insurance

Date: Wed, 03 Aug 2005

More Britons are budgeting for life insurance costs, according to a new survey.

Research, conducted on behalf of credit card provider Mint, examined the changing nature of British spending over the past 40 years.

The results show that, as well as an increase in housing costs, more people are now concerned with ensuring they have adequate life insurance cover.

A spokesman for Mint said the study showed a "huge cultural shift in the way we spend our money".

"While spending patterns in the sixties were characterised by fulfilling basic needs and in the 80s by materialism, the trend in the nineties is very much towards personal enrichment," he added.

Life insurance is seen as one of three new spending areas for Brits, alongside increased expenditure on communications and cultural pursuits.

Overall, the report highlights the need for people to ensure, if the worst should happen, that loved ones are left with some level of financial security.


© 1998-2005 DeHavilland Information Services plc. All rights reserved.

Endsleigh Insurance Services Limited is authorised and regulated by the Financial Services Authority. This can be checked on the FSA Register by visiting its web site at www.fsa.gov.uk/register.
Endsleigh Insurance Services Limited. Company No: 856706 registered in England at Shurdington Road, Cheltenham Spa, Gloucestershire GL51 4UE.