Credit-crunched Brits reassess priorities


Brits are using the recession as an opportunity for soul-searching and rethinking priorities, according to new research from LV=.

Two-thirds (64%) of those polled by the insurance firm said they’ve been forced to reassess what’s important to them.

Money is no longer top priority in the lives of Brits, having been ousted by family health, spending time with loved ones, and personal health.

The survey indicates the emergence of a less materialistic attitude to life, with money no longer a central concern.

However, it was still placed high on the register of importance, with maintaining the current level of income the fourth priority in the lives of Brits.

Mike Rogers, LV= chief executive, said: “Ideally people should protect all of the important things that they love in their lives, but our study shows their actions don’t match their words.

“This may be due to lack of awareness or a mistaken belief that protecting income and health is very costly.

“Whatever the reason, now is the time for people to review what financial protection they have in place to cover their key life priorities, and take action to bridge any gaps,” added Mr Rogers.

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