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Britons going unprotected despite crunch
25 November 2008 16:01
A huge number of British adults are going unprotected when it comes to their finances, startling new research has revealed.
An investigation by Barclays Financial Services discovered that 47 per cent of those eligible do not have any kind of policy in place to protect them and their loved ones in the event of loss of income, health problems or premature death.
Perhaps even more worrying, nearly three quarters of Britons have no critical illness cover, which has become all the more important during the current economic turbulence.
Alison Tattersall, head of customer and proposition at Barclays financial planning, said that during tough economic times it's often responsibilities like protection policies which fall to a lower priority.
He added that people must consider the financial consequences of not being able to work, or their dependents' situation if they were to die unexpectedly.
Earlier in the week, Virgin Money claimed that comprehensive insurance is all the more important over Christmas due to the high level of criminal activity.
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