Introducer Today

News Story

Consumers shunning payment protection insurance

Tuesday 15th July 2008

Britons' fears over the UK economy are failing to prompt interest in insurance products such as mortgage payment protection cover, it has been revealed.

In a poll conducted by YouGov on behalf of the Association of British Insurers (ABI) 92 per cent of the sample said they felt that the economic environment is worse that it was a year ago.

Meanwhile, 82 per cent admitted that they expect conditions to worsen over the next 12 months.

However, just 31 per cent of the sample said they would be willing to take out protection insurance products in the future.

Nick Kirwan, assistant director of health and protection insurance at the ABI, said: "It is worrying that so many people are not prepared to look at taking out protection insurance, even insurance which covers redundancy given the uncertain economic outlook.

"It's clear that we need to work harder to get the message across about the peace of mind and value that having the right protection insurance gives individuals and families."

© Copyright 2007

Send to a Friend

View Comments 0 comments

Report Abuse

There have been no news comments

Post Comments

Please login to post comments:

Post Comments without login

Most Read News Stories:

Regulator to ban self-cert mortgages
Tuesday 13th October 2009

Tesco to launch mortgages before current accounts
Monday 23rd November 2009

Order to suspend HIPs is signed
Monday 17th May 2010

Mortgage advisor pleads guilty to charges
Wednesday 29th October 2008

Case result major blow for claims management firms
Monday 26th October 2009

Discuss in Forum

RSS Feed News Archive

Share this article:

Digg it

Del.icio.us

Newsvine

Nowpublic

Feedback:

If you have any questions or suggestions about this article or our news section, please don't hesitate to contact us.

Claims Financial are a market leader in the £30 billion financial compensation market and 99% of our work comes from partners just like you.

Read More