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Spend less on coffee more on life insurance

Date: Wed, 03 May 2006

Consumers are being advised to spend less on their daily coffee and more on vital financial products such as life insurance cover.

It is estimated that foregoing a daily latte could amount to an extra £127,000 by the time of retirement, reports the Mail on Sunday.

Popular chain Starbucks charges £1.85 for its two most popular drinks, the tall latte and the tall cappuccino, meaning that one of these drinks bought every working day adds up to £9.25 a week and £434.75 per year.

However, consumers could be better investing their funds in significant products such as life insurance cover to help protect the financial security of their loved ones.

Jason King, managing director of specialist broker Life Policies Direct, said: "It really isn't that expensive for someone in reasonable health to buy a good level of financial protection. You could use £36 a month to build basic life cover or to top up insurance you already get through your job."


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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.