Mobile insurance more popular than life insurance

A study by Legal and General (L&G) has established that Brits are more prone to pay for mobile phone insurance than life insurance or critical illness cover.

L&G’s study showed that 22% of people claimed to have mobile phone insurance, only 17% have critical illness cover and 14% have an income protection policy. 54% of those questioned didn’t have any protection policies whatsoever.

The study has established that more people are likely to insure their belongings than their life.

Bonnie Burns of L&G said that priorities seem misguided in this country. It seems that more people are worried about losing their mobile phone but don’t think how they would manage financially if they had a critical illness.

The survey has highlighted the fact that people need to consider their future, especially as the pensions debate continues after new Government research revealed that an estimated 7 million workers are still not saving enough for their retirement.

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