Life insurance cover necessary in recession

Mon, 15 Jun 2009

Despite data from the Association of British Insurers, life insurance cover remains an extremely effective security net for your dependents. Some 13 per cent of people have cancelled their life insurance policies in the last year, according to ABI reports.

Stopping life insurance premiums may seem like an easy choice to make. Whether you have a term insurance policy, or mortgage life insurance, your life insurance will pay out in the event of your death.

Life insurance experts have been quick to make sure the value of life insurance policies are known. Matt Morris of life insurance broker LifeSearch was reported in the news as commenting: "Cancelling a life insurance policy is a drastic move. And, of course, you are leaving yourself vulnerable as they will be no payout if something happens."
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