Sainsbury's Bank issues life insurance warning

03 February 2005
Britons have been urged to make sure that their life insurance policies are as comprehensive as possible.

Sainsbury's Bank has warned that many policies fall short and could leave family members facing financial hardship in the event of a tragedy.

Sainsbury's Bank found that often people only cover themselves for the cost of their mortgage.

Donald Jarvie, Sainsbury's Bank life insurance manager, said: "We are concerned that many people tot up their mortgage and maybe their other debts and base the amount of life insurance they buy on that figure.

"Whilst that might be a reasonable assumption for those without dependents, families should remember that over and above paying off debts, the real benefit of life insurance is that it is there to make sure that your family is left financially secure in the long term should something happen to you."

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