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Life insurance could cover savings gap

Date: Mon, 20 Mar 2006

Life insurance could help to bridge the savings gap experienced by many UK households.

New research from the Department of Work and Pensions shows that 49 per cent of households have either no savings or a maximum of just £1,500 in their savings account. This means that many families are not financially prepared for the loss of a loved one, especially if they have neglected to purchase appropriate life insurance cover.

The study has also revealed that household debt is on the increase, with many people increasing mortgages to try and cover their spending. However, this could mean families without life insurance cover may be forced to sell their homes following the death of the household's main earner.

Appropriate life insurance cover can help to ensure an income for loved ones if the worst was to happen, as well as paying any outstanding debts.


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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.