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Women `risking debt for families through lack of insurance`

09/10/2008

By failing to secure insurance, women in the UK may be putting their families at risk of future finance problems, potentially including debt.

This is the finding of a study conducted by AXA, which found that while there has been a significant rise in the number of women who contribute significantly to the income of their families, relatively few females take out cover products such as life insurance.

According to the firm, eight million working women do not have critical illness cover, life insurance or income protection in place.

Commenting on the findings, head of protection at AXA Iain Mallon said: "Unlike during the 1970s, women becoming ill and unable to work now could have significant financial implications for the whole family."

In other news, research conducted by YouGov recently on behalf of trade body R3 found that 21 per cent of UK households are now finding bills a constant struggle, potentially putting them at risk of insolvency.

Energy firms `not refunding overpayments automatically` 01/07/2009 - A new report by consumer group Which? has claimed that Average household £7 a week richer but debt levels remain high 01/07/2009 - During May, a typical household had £164 a week left Consumers `cutting back on credit card debt` 01/07/2009 - Many UK consumers are cutting back on the amount of Mortgage debt often greater than house value 01/07/2009 - According to the latest findings from global rating agency Fitch,