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Life insurance needed to cover increasing debt

Date: Tue, 20 Jun 2006

Many consumers are struggling to cope with rising debt levels and could risk passing on their financial burdens to loved ones.

Recent figures suggest that the total UK public debt is rising by as much as £1 million every four minutes, reports the Scotsman. However, many people are neglecting to purchase life insurance cover to help protect relatives if the worst was to happen.

The growing acceptance of high personal debt means that many more UK families face losing their family home if the major bread winner dies. In 2005, more purchases were made on debit cards than with cash for the first time and this shows the continued move towards credit being the more favourable option.

However, purchasing adequate life insurance cover could help provide a lump sum or a guaranteed income for those left behind.

Anyone thinking of purchasing a life insurance policy is encouraged to shop around for the best deal as types of policies can vary widely. Some products may guarantee a payout, whilst others expire after a set period of time.


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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.