19 million cancel insurance policy payments

This equates to just over 19m people reducing their financial security. Of those who have cut costs in this way, 15pc abandoned private health and dental insurance whilst 13pc cancelled a life insurance policy. Naturally mortgage payment protection insurance fared better, with only 7pc of those revising their policies cancelling this protection. The majority, 86pc, of those who have cancelled insurance policies or pension contributions in a bid to save money saved themselves up to £50 a month. However uSwitch cautioned that there may be a longer term price to pay for such savings, warni...