Britons' suffer 'perception gap' over protection - study

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Almost half (43%) of Britons do not buy life insurance because they do not see the need for it, research suggests.

Likewise 40% believe the same of income protection (IP), according to research by Swiss Re from over 1,000 consumers. The findings point to an increasing "perception gap" between people's idea of their financial security and their actual circumstances, say authors of The Insurance Report, The Cost of Doing Nothing. "A growing number of people believe they are financially self-reliant, and yet clearly they are not," says Ian Etheridge, Swiss Re's head of account management UK and Ireland. "We call this the 'perception gap' and yet we as an industry are not doing enough to correct th...

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