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Life insurance falling short

Date: 07 Feb 05 Analysis

Some life insurance policies might not be offering enough cover to their policyholders.

A recent survey by Sainsbury's Bank found that many people only cover themselves for mortgage repayments and not other liabilities.

As a result families could be left struggling financially in the event of a tragedy.

Donald Jarvie, Sainsbury's Bank life insurance manager, said: "We are concerned that many people tot up their mortgage and maybe their other debts and base the amount of life insurance they buy on that figure.

"Whilst that might be a reasonable assumption for those without dependents, families should remember that over and above paying off debts, the real benefit of life insurance is that it is there to make sure that your family is left financially secure in the long term should something happen to you."

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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.