Sainsbury's Bank: Shop around for life insurance
www.moneynews.co.uk > Insurance > Sainsbury's Bank: Shop around for life insurance
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Money News |
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Sainsbury's Bank: Shop around for life insurance
Thu 18th Oct 2007
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Claire Moyles, a spokesperson for the bank, said that this group may be paying more than they need to because they choose a provider which is familiar to them.
"Younger people tend to go with their mortgage lender because they might be a first-time buyer and that tends to be the easiest thing to do," she remarked.
"Not shopping around is a disadvantage for them because with life insurance your premiums do stay the same."
A report by the Association of British Insurers (ABI) issued at the beginning of the year reveals that the UK insurance industry paid out more than £160 million each day in pensions and life insurance benefits during 2005.
Separate research by the ABI indicates that £41,168 was paid on life insurance premiums in 2005-06.
Related News : Insurance |
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Related News : Sainsbury |
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