Life Insurance -
People concerned about their retirement - 12/06/2008
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Insurance provider, Life Trust Insurance, has found that more and more people in the UK, are worried about their ability to cope with the financial commitment of retirement.
Some 54 per cent of people in the UK are worried about how to finance their retirement, if they lived for a decade beyond current life expectancy.
Life Trust Insurance also found that some 40 per cent were worried about financing retirement, even if they lived for the average life expectancy.
The chief executive of Life Trust, Andy Briscoe, reportedly commented: “We are all living longer than ever before, which should be seen as an opportunity not a burden. But we continue to see a real disconnect between people's perception of retirement, in terms of length and aspirations, and the money they have set aside to pay for it.”
It was also found that despite, life insurance policies being cheaper, than in recent years more people are choosing not to take them out and even cancelling their existing policies due to the credit crunch.
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