Bradford & Bingley's The Marketplace says that the majority of UK households with life insurance are...
Bradford & Bingley's The Marketplace says that the majority of UK households with life insurance are not increasing their premiums in line with earnings increases, potentially leaving millions of people with insufficient cover should something happen.
Some 54% of UK households have some sort of line insurance, but fewer than 50% of all people with such insurance bother to increase the level of life cover originally taken out.
B&B says that cover should be reviewed regularly, particularly as the increase in premiums ought not to be too expensive - assuming that income levels are not moving substantially ahead of the rate of inflation.
Varying debt levels will also play a part in determining premiums, it adds.
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