UK Money News
17th December 2007
Life insurance 'very competitive'
The life insurance market in the UK is very competitive at the moment, meaning that the help with money on offer to consumers is unusually favourable.
So claims personal finance company Libra Financial Planning, which states that the products on offer can vary substantially in price.
A spokesperson for the firm remarks: "Premiums can vary greatly in terms and how cheap or expensive it is and all the different add-ons you can get but it is very competitive. I would say the market is quite strong."
People seeking help with finance for their family in the event of their death might like to carry out finance comparisons to ensure that they are getting the best deal available.
Meanwhile, figures from Prudential suggest that the UK's life insurance market was the third biggest in the world in 2004, with £105 billion in net premiums.
It adds that the market is relatively mature, meaning that a high level of market penetration has been achieved, with a wide variety of products on offer.
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