Life Insurance -
Mobile phones more important than life insurance - 05/03/2008
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A recent study by Friend Provident has revealed that 54% of people surveyed in its Protection Survey did not have life insurance.
Of the 46% who did have existing life cover, the majority, seven in ten, revealed that they would consult a financial adviser or conduct their own research online before choosing a policy and insurer.
Friends Provident protection products and actuarial manager, Mark Jones said: “Understandably, none of us really want to think about our own mortality, but we do owe it our families to ensure that we have made provision, be it to pay off the mortgage or provide a lump cash sum.”
However it seems some possessions are more important to consumers than their life insurance policies. Only 6% of respondents would be prepared to exchange their mobile phone for free life insurance. However 27% of participants said they would purchase life insurance if they have £5 a month to spend on it.
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