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Britons see value in protection insurance
23 January 2008 12:00
Britons recognise the security that different forms of protection insurance can offer them and are unwilling to cut corners in order to get it, according to a new survey.
Over one in three currently people have life insurance and one in five have an income protection policy, Prudential's poll revealed, while more than one in six possess critical illness cover and over one in 20 are insured for payment protection.
Nor do Britons quibble over price when it comes to obtaining these crucial types of insurance, with two out of five saying that they choose protection policies according to the extent of cover it offers, whereas only one in four made a low premium their priority.
Moreover, just one in nine policyholders would consider cancelling their life insurance, compared to more than two out of three who would do so with their TV subscription and almost half who would get rid of their mobile phone contract.
Prudential's Sammy Rubin said that while rising uncertainty over the economy could move many people to seek to cut their regular outgoings, protection cover can provide a lifeline in these times, offering security in the event of any unexpected hardships.
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