Survey: Lack of money leads to fall in numbers buying insurance

Consumers are cutting out protection policies as a result of financial hardship, according to a Friends First survey.

The insurance firm found that almost 70% of consumers have experienced a drop in household income over the past 12 months with 40% saying that mortgage repayments are their biggest financial concern, while a startling 45% fear that they or their partner could be at risk of losing their jobs in the next twelve months.