Life Insurance - Life Insurance is Top Consumer Priority - 11/06/2008

People prioritise their payment protection or life insurance policies far higher than other services we have come to rely heavily upon, such as mobile phone contracts, television package subscriptions and other non-essential goods. This is according to research carried out by insurance provider, the Prudential.

The results have come amid rising fears of the worsening credit crunch and new worries of a potential recession in the US as the housing markets plummet both at home and stateside. Moreover, the increasing cost of energy and food has motivated people to look for ways to reduce their annual outgoings.

According to the statistics, only one in ten people surveyed would relinquish their life insurance policy in order to tighten the proverbial belt, while over a third of respondents stated that life insurance was their most vital policy. The second most important policy was income protection, as ranked by a fifth of those people surveyed.
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