Released on: March 16, 2010, 12:16 am
Author: Kim Chambers
Industry: Financial
Research recently conducted on behalf of Friends Provident revealed that nearly half (24million) of people in the UK have no life insurance in place to cover loss of income through illness or death of a breadwinner.
Amongst those who currently have life insurance policies, 53% had no idea how much they would receive if they were to make a claim. This suggests that they don't know whether they have adequate cover in place. It is also highly likely they haven't reviewed their cover recently and so could therefore be paying over the odds.
Richard Morea, Technical Manager at L&C said, “Consumers are clearly burying their heads in the sand and adopting an ‘it won't happen to me' stance. We urge people with no cover to take action now to protect their family in the event of the unforeseen happening. Those with cover should understand exactly what it will provide in the event of a claim. If it is sufficient, they should review the cost. L&C's online 1 minute life insurance check calculator will quickly show them if savings can be made. In addition they should review whether their cover is still adequate and if it's not take expert advice'.
For a free life insurance review, speak to one of L&C's expert advisers on 0800 073 1932.
-Ends-
Notes to Editors:
The protection research was commissioned by Friends Provident. An online poll was conducted by 72 point in December 2009 and surveyed 2,000- adults across the UK.
London & Country (L&C) is the UK's leading no-fee mortgage broker. Based in Bath, it provides whole of market advice via telephone and post to clients nationwide. As well as residential mortgages, it also specialises in the Buy-to-Let and adverse-credit sectors.
L&C is a Climate Neutral company and for the last seven years has invested in climate friendly projects and tree-planting to help offset its emissions and those of its customers. For more information, go to www.lcplc.co.uk/green
L&C has won numerous awards including:
Best Mortgage IFA/Adviser of the Year – Money Marketing, 2004, 2005, 2006 and 2008
Best Technology Adviser – Money Marketing 2007
Best Mortgage Broker outside London – Mortgage Strategy, 2004 and 2005
Best National Broker – Mortgage Introducer 2005, 2006 and 2007
Best Overall Broker – Mortgage Introducer 2005
Overall broker of the year – Pink Home Loans, 2006 and 2007
Top 100 company in the Sunday Times Fast Track 100 for 2004 and 2005
Business of the Year – The Bath Business Awards 2005
Growth Strategy of the Year – National Business Awards (Wales and West) 2008
Business Leader (Broker) – British Mortgage Awards - 2008
Online Mortgage IFA of the Year – Financial Adviser - 2008
For further information please contact:
David Hollingworth, Head of Communications
Office: 01225 341211
Mobile: 07710 634044
Richard Morea, Technical Manager
Office: 01225 341312
Mobile: 07970 885168