According to the Association of British Insurers, life insurance is the most important type of insurance policy and should be retained above all others.
The ABI indicate that an increasing number of consumers are intending to cut back on expenditure, and some insurance policies will be for the cull. Discarding life insurance, the ABI said, would open up major risks.
A spokesperson for the ABI, Jonathon French, reportedly commented: "Particularly when it comes to those products which would protect your income in the event of you being made redundant, [is that] those sort of products are at their most valuable. We would say that people should look very very carefully before they take action which would potentially leave them unprotected."







