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Factor life insurance into financial plans

Date: Thu, 02 Jun 2005

People should ensure they factor in life insurance when making financial plans for the future.

New research by Barclays Bank shows that 39 per cent of people spend no time at all planning their financial futures and a further 38 per cent spend 15 hours a year or less - a sign that many people have inadequate life insurance cover.

Seeking advice from family and friends remains a popular way for people to decide how to plan for their financial future, although 25 per cent do make an appointment to see a financial advisor.

"We are not a nation of planners - 33 percent of us don't even spend time planning our annual holiday," said Ray Greenshields, managing director of Barclays UK Private Client businesses.

"It is more worrying, however, that so many of us fail to spend time planning for our financial futures."

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