A number of people in the UK do not realise the value of
life insurance, according to a spokesperson for Libra Financial Planning.
Stuart Budgen advised that in today's financial climate,
life insurance could be more important than ever.
With a tightening of economic conditions, he advised, there is an increasing chance of repossessions, making it necessary not just to obtain proper life cover, but income protection as well.
"It's very important and I don’t think people realise - especially at the moment, with people struggling to pay bills," he added.
According to recent research by the Association of British Insurers, around 40 per cent of British households currently have
life insurance cover. The UK market paid out around £17 million in death benefits in 2006.
Mr Budgen asserted that for those responsible for dependents, taking out adequate life insurance cover is even more important.
InsureandGo offers competitive
life insurance policies to provide varying levels of cover.