ABI: Lifestyle packages 'offer choice'
www.moneynews.co.uk > Insurance > ABI: Lifestyle packages 'offer choice'
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ABI: Lifestyle packages 'offer choice'
Tue 26th Jun 2007
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Among many financial groups, the lifestyle protection packages are being offered as a flexible alternative to payment protection insurance, which provides cover for debts and lifestyle if a customer should lose their income.
A spokesperson for the ABI said that the lifestyle protection products were offering "different cover for different people".
They added: "The more products that are on the market with different levels of cover, the better it is for the consumer to be able to get something that's right for them."
The ABI said that in an environment of rising interest rates, "everybody needs to look at how they will protect themselves if anything were to go wrong".
A plethora of products on the market demonstrated that there was a "competitive, vibrant marketplace".
The ABI represents the collective interests of the UK's insurance industry and has around 400 companies in membership.
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