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Life insurance is crucial

Date: Mon, 19 Jun 2006

Purchasing life insurance is seen as vital but many consumers are deterred because of the complex number of products available.

The Times reports that over 18 million British adults do not currently have a life insurance policy even though not having cover could lead to the loss of the family home.

In particular, many younger people feel that life insurance policies are an unnecessary expense and prefer to spend money on improving their current lifestyle rather than planning for the long-term future of loved ones.

Kevin Carr, of insurance broker LifeSearch, explained: "If you are single, do you need life insurance? In general, the answer is no."

However, he added: "Life cover is cheaper the younger and healthier you are, so if you think that you may need cover later on, it might be worth getting it early."

Anyone considering purchasing a life insurance policy should shop around for the best deal and ensure they have sufficient cover to protect against outstanding debts including any mortgage loans.


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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.