New Money Saving Website - QuoteBoffin.co.uk - Highlights Insurance As One Of The UK's Few Remaining Essentials As Britain Climbs Out Of The Recession
on: February 24, 2010, 6:35 am
It's official, the recession that flaunted a stranglehold
over the world's economic superpowers during 2008/09 has finally
loosened its grip.
The end of the biggest recession in 70 years doesn't mean a return to frivolous
spending or reckless borrowing however as a continued slump in car sales and slow
growth in house prices shows consumers have quickly come to re-evaluate what
constitutes life's 'bare essentials'.
As the economic climate remains undeniably gloomy, it's understandable that many
consumers will continue to worry about the security of jobs, borrowings and their
ability to pay off debts and other household bills.
In light of this, life insurance comparison site Quoteboffin.co.uk is calling for
greater emphasis to be put on the importance of insurance with regard to peace of
mind and preparing for the unforeseen especially at an already difficult time.
Quoteboffin.co.uk said it acknowledged the pressure consumers are under in light of
escalating debts: “Household debt has been growing at a rate of 6.8% a year and with
increased borrowing in the form of credit cards, mortgages and loans it's
understandable that many consumers are feeling considerable financial strain like
From as little as £5 a month consumers can invest in affordable insurance packages
like life cover and income protection from market leaders such as BUPA, Aviva and
Standard Life. With the economy in a continued state of flux, a monthly premium of£5 is a small price to pay for greater peace of mind.”
On a brighter note, the recession can also harbour some positives for the consumer
such as greater financial awareness, decreased impulse spending and a move towards
taking out personal insurance cover rather than relying on packages that come part
and parcel with employment.
QuoteBoffin.co.uk echoed this idea: “Unfortunately the reality of today's economy
means more and more job cuts are a likely to be forecast. People who have been made
redundant or shifted role during a departmental reshuffle need to remember that
their employment benefits may no longer include financial protection such as life or
Consumers need to take control of their money and appreciate that during times of
uncertainty increased financial protection such as insurance can easily become one
of life's most important bare essentials.”
Quoteboffin.co.uk is an online insurance comparison website offering life insurance
comparison tools that allow users to search the market and procure the best life
insurance policies and quotes.
QuoteBoffin.co.uk was launched in February 2010 and is a trading style of David and
Co Consultants Limited.
QuoteBoffin.co.uk is FSA regulated.