Families buying more protection - Aviva

The insurer's Aviva Family Finances Report for 2011 found that, as income fails to keep up with inflation, debts increase and monthly savings hit their lowest levels for 2011, families are not only trying to save, but are also taking out protection products. The report said average monthly incomes rose by just £46 since January 2011 but the cost of energy bills (+18.8%), motoring (+8.7%), public transport (+8.5%) and food (+6.9%) have all soared, squeezing discretionary spending. As a result the typical savings pot (excluding any pensions or property) is just £967, down 2% over the ye...