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In a Harsh Economy Getting Cheap Life Insurance is Important - News 2009
The harsh economic climate has made making every penny count an important issue for many consumers and some have considered cutting back on products such as life insurance.
Recent research from the Association of British Insurers (ABI) has shown that some consumers are either refusing to renew their policies or canceling them altogether as finances become scarce.
However, cutting back or canceling insurance protection may end up being a costly affair in the long-run and instead, consumers should consider other measures such as shopping around for cheaper life insurance.
"In these uncertain times, insurance provides a vital financial safety net to steer individuals, and families through the recession, as well as helping to provide long-term security," advises Stephen Haddrill, the ABI's director general.
According to industry experts, life insurance rates are now more affordable than in the past because prices have been falling over the last few years.
Writing in lovemoney.com recently, Neil Faulkner stated that prices are now at their lowest point in seven years but the situation will not last forever, hence now is the time to get a policy or review an existing one.
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