Benefit shortfalls key for consumers - Syndicate

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Consumers increasingly appreciate the need for protection insurance when they are told about the limitations of state benefits, new research has found.

However the study found more than 70% of people still believe the state should support them in the event of suffering a long term disability or illness. It also revealed that four in ten consumers (40%) have never through about buying critical illness (CI) or income protection (IP). The research is part of the first report launched by The Syndicate, which interviewed 1,000 adults about their financial decision making and awareness of protection insurance products. Encouragingly for the industry, 41% of respondents said the best way for them to appreciate the need for protection ins...

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