UK Life insurance market very competitive
December 14, 2007 by admin
Filed under News, News-Insurance
A spokesperson for Libra Financial Planning has announced that while “the life insurance market in this country is very competitive” and that prices are falling.
He said that premiums can vary greatly in terms, price and all the extra add-ons available, but the marketplace is still very competitive.
“I would say the market is quite strong,” he added.
The cost of life insurance appears to be falling due to people living longer say the organisation.
The impacts of medical improvements and healthier lifestyles are having a significant on our population and as a result people are living longer, said the spokesman.
Figures from the Financial Services Authority have revealed that by 2031 the life expectancy for men will be 81 years and for women, 85.
According to Prudential, the UK life insurance market was the largest in Europe and the third largest in the world in 2004, with approximately £105 billion of net premiums written.


