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Life insurance could help ease anxiety

Date: Thu, 08 Jun 2006

Taking out life insurance could help to ease anxiety by helping families prepare for the eventualities they can control.

After conducting research to find out what makes Britons worry the most, Prudential is urging people to focus on the issues they can make reasonable plans for, such as their savings, debts and job security.

The insurer's National Risk Report found that most people, instead of worrying about whether they will slip into debt or lose their job, are concerned about things which are beyond their control, such as terrorist attacks, bird flu and hospital superbugs.

This is despite the UK facing a £1.1 trillion personal debt mountain and the well-publicised savings gap that threatens many people's retirement.

Prudential says Britons are focusing too much on events that are unlikely to happen instead of those they can influence or make practical and financial plans for.

Paul Cowman, head of protection at Prudential, said: "An age of fear is gripping the country and it is entirely irrational. Many people are focusing on unlikely events but not worrying about how they would meet the payments on their mortgage if they were to become seriously ill or lose their job. You're far more likely to lose your job and struggle with debts than be a victim of terrorism or superbugs."

Taking out life insurance can be a positive move to protect against the more likely prospects of becoming ill or losing income, as well as less likely but more serious eventualities such as accidental death.

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