UK consumers are putting too much emphasis on price when insuring their lives, according to new research.
Findings from Datamonitor have revealed that consumers are running the risk of leaving their loved ones struggling to cope financially if they die, become ill or loose their jobs. The independent market analyst revealed that only 11.2% are choosing whole-of-life insurance based on what the policy offers. Even more worryingly, it said, only 3.6% of consumers look at product features when choosing long-term care insurance. It argued that educating consumers about financial capability and responsibility is the best approach to alleviate this problem. "Many consumers simply perceive...
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