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More consumers could get life insurance to protect their financial futures

Having life insurance or income protection cover could soon become a norm for an increasing number of cash-savvy consumers.

According to the Generation Recession Report from Friends Provident, a new group of realistic thinkers concerned with protecting their finances has been fostered by the downturn.

The study shows that one in five (20 per cent) UK adults now feel a greater need to focus on the future, while a third (33 per cent) have started saving more since the recession begun.

"Despite the negative impact of the recession experienced by many people across the UK, it is encouraging that a significant number have taken it as an opportunity to become more financially savvy," commented Simon Clamp, managing director UK at Friends Provident.

"Increasing financial awareness amongst consumers can only be a good thing and this is demonstrated by the numbers who are reducing their debts and becoming more focused on their futures and saving for the long-term."

As well as saving, consumers are advised to have protective measures such as life insurance, income protection or unemployment cover, which can offer a vital source of income for dependants in case of death or redundancy.

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After you have compared the life insurance information on Go Direct if you would like Life Insurance Advice, please complete our life insurance enquiry form and we will contact you to discuses your insurance needs.

 

You may also be interested in:

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