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Despite consumer confidence life insurance still advisable

Date: Wed, 03 Aug 2005

Despite a rise in consumer confidence, life insurance is still regarded as a valuable expense.

The Nationwide's Consumer Confidence Index rose to 101 in July, compared to 95 in the previous month.

There had been concerns that the terrorist attacks during July may have caused a fall in consumer confidence but the figures appear to reject this, especially with many people predicting a cut in the Bank of England's interest rate this week.

"The Index shows that consumer confidence rebounded in July following steep falls in May and June," said Stuart Bernau, Nationwide executive director.

"It appears that fears about a downturn that existed in recent months have lessened. The prospect of an interest rate cut may also have aided the rebound in sentiment."

There has also been a slight pick-up in the housing market which has boosted public confidence, however, experts are warning that people do still need to insure against illness as well as taking out income protection in case the labour market begins to slowdown.


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Endsleigh Insurance Services Limited. Company No: 856706 registered in England at Shurdington Road, Cheltenham Spa, Gloucestershire GL51 4UE.