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Life insurance needed for poor English finance

Date: Wed, 21 Jun 2006

England appears to have the worst personal financial situation in Europe, reports a new study.

The research, conducted by Datamonitor, on behalf of Egg, discovered that many English people are not saving for their future or ensuring the long-term income of loved ones.

Compared to France, Germany, Italy and Spain, the country is failing to ensure that its personal financial situation is stable and reliable.

French households manage to save around 12 per cent of their income and thus should be able to ensure their loved ones have a stable future if the worst was to happen.

Instead, English homeowners are being encouraged to make sure they put a bit aside each month to cover the purchase of a life insurance policy. However, consumers are also advised to make sure they shop around for the most competitively priced premiums.

Alison Wright, Egg’s chief marketing officer explained: "Research suggests that, in areas such as insurance premiums, we are poor at shopping around for the best deal and often simply renew our current policies.

"It is important that consumers remain well ahead of the game by always seeking the best deal for their money."


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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.