While the current uncertain economic climate may lead people to think about which insurance policies they can and cannot afford, consumers have been advised that
life insurance may be one of the most valuable policies on offer.
"The great irony, particularly when it comes to those products which would protect your income in the event of you being made redundant ... are at their most valuable potentially during times of economic uncertainty," said Jonathan French, spokesperson for the Association of British Insurers.
He added that individuals should tread carefully when considering action that may leave them unprotected.
Research from Prudential has found that life insurance is one of the forms of protection most valued by Britons, with some 35 per cent of people saying that it is top of the list when looking for cover.
However, the organisation also found that one in ten people would be willing to give up their policy if their budgets were being stretched too far.
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