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Financial anxieties suggest worth of life insurance

Date: Wed, 04 May 2005

Increasing financial anxieties could highlight the need for life insurance, in order to avoid passing on debt.

A study by insurer More Th>n discovered that over 11 million consumers lack confidence about their financial future, with 20 per cent admitting that their confidence has fallen further over the past three months.

Graham Hollebon, head of personal finance at More Th>n, said: "People are clearly sensitive to the potential for their personal finances to take a bit of a knock over the coming months and it is encouraging that many are looking to reduce debt as a first response to this."

Growing uncertainty in the economy means that 27 per cent of people are concentrating on paying off existing debts, whilst 32 per cent are attempting to save money.

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