Protection denial in UK life insurance

Wed, 26 Mar 2008

According to recent reports in the life insurance news, a new survey shows that UK adults are in denial, and are therefore failing to protect themselves against serious illnesses, unemployment and other critical financial problems . Protection of this type includes life insurance and critical illness insurance .

The annual AXA international Protection Scope survey indicates that most UK adults are in denial about their risk to health, employment and financial problems. This relaxed approach to risk means that many Brits fail to plan adequately with health insurance and life insurance .

British people were largely likely to rely on family if times got tough. The head of protection at AXA, Iain Mallon, was reported as commenting: "It is particularly surprising to see how many people think relatively common life risks, such as unemployment, are unlikely to impact on their life, particularly at a time when the global economy is under pressure and we are facing wide-spread predictions of house-price falls. Despite the fact that many UK adults think life risks are unlikely to happen to them personally, the reality is that they can happen to anyone, and it's better to prepare for everything that life could throw our way."
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